Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, anticipates a surge in Bitcoin’s price to $100,000 prior to the US presidential elections in November. Kendrick shared his insights with The Block via email, outlining the factors influencing this prediction and providing a detailed analysis of BTC’s price trajectory.<\/p>\n
Kendrick projected, “I expect $100,000 to be reached and then $150,000 by year-end in the case of a Trump victory.” He highlighted the current political environment and recent regulatory actions, indicating that Trump’s administration is viewed as more favorable towards Bitcoin than Biden’s. He emphasized the significance of the upcoming US Non-Farm Payrolls data on Bitcoin’s price, suggesting that positive data could lead to new all-time highs and a potential rise to $80,000 by June’s end.<\/p>\n
In addition to short-term forecasts, Kendrick reiterated his long-term predictions, maintaining a year-end target of $150,000 and foreseeing $200,000 per BTC by the end of 2025. Standard Chartered’s earlier research note hinted at a bullish outlook for Bitcoin and Ethereum by the end of 2024, suggesting that Bitcoin could hit $150,000 and Ethereum $8,000. The bank’s analysts credited the launch of Bitcoin spot exchange-traded funds (ETFs) in the US for boosting these projections.<\/p>\n
Standard Chartered bases its optimistic Bitcoin valuation on three key analyses, drawing comparisons with the response of the gold market to gold ETFs’ introduction. The bank estimates potential BTC growth to $200,000, considering portfolio optimization with gold, and suggests a possible $250,000 level based on ETF inflows. At present, Bitcoin is trading at $71,183.<\/p>\n
The bank’s analysis indicates that $200,000 could be the expected price level for Bitcoin by the end of 2025, with a possible interim rise to $250,000 if ETF inflows and reserve managers’ BTC purchases continue. Kendrick and Suki Cooper highlighted the dominance of inflows to Bitcoin spot ETFs, indicating a shift towards more stable investment trends in BTC.<\/p>\n
<\/p>\n","protected":false},"excerpt":{"rendered":"
Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, anticipates a surge in Bitcoin’s price to $100,000 prior to the US presidential elections in November. Kendrick shared his insights with The Block via email, outlining the factors influencing this prediction and providing a detailed analysis of BTC’s price trajectory. Potential Bitcoin Surge […]<\/p>\n","protected":false},"author":1,"featured_media":13310,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"slim_seo":{"title":"Bitcoin Price Forecasted to Reach $100,000 Before US Elections - Bitrabo","description":"Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, anticipates a surge in Bitcoin's price to $100,000 prior to the US president"},"footnotes":""},"categories":[316],"tags":[448,4270,3956,911,4629,1488,539],"class_list":["post-13309","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-bitcoin","tag-chartered","tag-elections","tag-predicts","tag-preus","tag-standard","tag-surge"],"acf":[],"_links":{"self":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13309","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/comments?post=13309"}],"version-history":[{"count":0,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/posts\/13309\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media\/13310"}],"wp:attachment":[{"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/media?parent=13309"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/categories?post=13309"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.bitrabo.com\/discover\/wp-json\/wp\/v2\/tags?post=13309"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}