Bitcoin’s Potential Price Forecast: $125K with Trump Win, $75K with Harris Victory, Predicts Standard Chartered
The impact of the U.S. presidential election on digital assets is a topic of interest, according to a recent report from a bank. While the election outcome holds significance, the bank suggests that its importance has diminished since Joe Biden was the Democratic nominee. The report indicates that the market may be placing more emphasis on this factor than necessary.
In terms of Bitcoin’s performance, the report predicts that the cryptocurrency is poised to achieve new record highs by the end of the year, regardless of the election result. If Donald Trump secures victory, Bitcoin could potentially soar to approximately $125,000. Conversely, if Kamala Harris emerges as the winner, the projected value could be around $75,000.
The bank remains optimistic about the prevailing factors influencing the crypto market. Geoff Kendrick, the global head of digital assets research at Standard Chartered, highlighted the positive momentum in the industry. He specifically mentioned advancements in regulatory relaxation as a key driver. Kendrick pointed out the potential repeal of SAB 121, which imposes strict accounting regulations on banks’ digital asset holdings, as a significant development expected to unfold in 2025, irrespective of the White House occupant. He noted that progress might encounter delays under a Harris administration, but the overall trajectory remains positive.
In conclusion, while the U.S. presidential election holds relevance for digital assets, the impact may be less significant than previously perceived. The report underscores the resilience and potential growth of Bitcoin, emphasizing that market dynamics and regulatory developments are crucial factors influencing the crypto landscape. The anticipated regulatory changes, such as the potential repeal of SAB 121, are expected to shape the future of digital assets, with progress set to continue regardless of the election outcome.
