Trump Presidency Could Propel Bitcoin to $125K, Harris to $75K: Standard Chartered

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Harvey Hunter is a Junior Content Creator at Cryptonews.com. With a background in Computer Science, IT, and Mathematics, he seamlessly transitioned from tech geek to crypto journalist.

Bitcoin is expected to end the year at new all-time highs regardless of who wins the US election, according to Investment Bank Standard Chartered analyst Geoff Kendrick.

In a September 12th Standard Chartered report, Kendrick suggested that Bitcoin could reach new all-time highs by the end of 2024 due to “positive drivers dominating regardless of the election outcome.” He stated:

I think Bitcoin ends the year higher, at new all-time highs, no matter who wins the U.S. election, with a Trump win taking it to $125,000 and $75,000 if it’s Harris.

Kendrick also noted that the U.S. presidential election’s impact on Bitcoin’s future trajectory matters less than it did when Joe Biden was the Democratic candidate.

Notably, Former President Donald Trump’s stance on cryptocurrencies has evolved over time. Despite previously criticizing Bitcoin as a “scam,” he has recently changed his tune.

Trump had previously criticized the Biden Administration for its harsh stance on Bitcoin and cryptocurrencies, instead advocating to make the US the global “crypto capital” if re-elected.

He has continued to support the sector, most recently endorsing his sons’ upcoming crypto platform, World Liberty Financial.

.@worldlibertyfi pic.twitter.com/mwhVIzPJyq

Meanwhile, critics argue that Vice President Kamala Harris’s affiliation with the current Biden administration may harm her relationship with the crypto community. Kendrick cited this as a factor that “would likely trigger an initial price decline” if she were elected.

However, reports suggest that Vice President Kamala