August Outlook: Standard Chartered Anticipates Bitcoin Breaking All-Time Highs

Standard Chartered predicts Bitcoin could achieve a new all-time high in August and potentially reach $100,000 by the U.S. presidential election in November. 

Geoffrey Kendrick, the bank’s head of forex and digital assets research, indicated that Bitcoin’s performance hinges on the outcome of the election, particularly favoring a scenario where former President Donald Trump secures another term. Kendrick believes a Trump victory could lead to regulatory policies more supportive of cryptocurrency markets. 

Standard Chartered maintains a year-end target of $150,000 for Bitcoin, with a long-term forecast of $200,000 by 2025.

Clever Robot News Desk 4^th July 2024