Bitcoin (BTC) is on track to hit new all-time highs by the end of 2024, according to Standard Chartered.<\/p>\n
In the view of the bank\u2019s global head of digital assets, Geoff Kendrick, who is quoted in a recent CoinDesk report<\/a>, Bitcoin could climb to $125,000 if former U.S. President Donald Trump wins the upcoming election or $75,000 under a Kamala Harris presidency.<\/p>\n While presidential elections are known to influence financial markets, Standard Chartered believes the outcome<\/a> of this year\u2019s race will be less impactful on Bitcoin than it was during the Biden-Trump contest.<\/p>\n Kendrick explained that the market now anticipates key regulatory progress regardless of who takes office. Specifically, the potential repeal<\/a> of SAB 121, a strict accounting policy enforced by the U.S. Securities and Exchange Commission (SEC) on banks\u2019 digital asset holdings, is likely to occur in 2025, providing a strong tailwind for Bitcoin.<\/p>\n The bank\u2019s report also noted that while Trump is perceived to be friendlier to crypto than Harris, the latter\u2019s administration would not halt Bitcoin\u2019s rise but might slow the pace of regulatory progress.<\/p>\n Beyond the election, shifts in the U.S. Treasury market are another critical factor the bank\u2019s head of crypto expects to support Bitcoin\u2019s growth. He highlighted that the U.S. Treasury curve is currently re-steepening, with break-evens falling less sharply than real yields.<\/p>\n This combination of falling risk-neutral yields and stable term premiums is building what the market watcher describes as \u201cpositive momentum\u201d for Bitcoin\u2019s long-term price trajectory.<\/p>\n It is not the first time Standard Chartered is projecting a bullish stance on Bitcoin. Earlier in the year, the bank made the same point about the upcoming U.S. elections as a major catalyst for the cryptocurrency\u2019s price movement.<\/p>\n At that time, it suggested BTC could even reach $150,000 by the end of the year if Trump returns to office. The lender believed that political factors, combined with regulatory and economic shifts, could provide a strong foundation for Bitcoin\u2019s rise in the coming months.<\/p>\n Furthermore, in its July outlook, Standard Chartered maintained its viewpoint, saying BTC had the capacity to hit $120,000. It cited increased miner profitability as one of the key drivers behind its positive outlook, with Kendrick explaining that with Bitcoin\u2019s price surge at the time, miners were seeing higher returns per BTC mined, enabling them to sell fewer coins while maintaining their cash flow.<\/p>\n The post Bitcoin\u2019s Price Targets Depending on a Win for Harris or Trump: Standard Chartered<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Bitcoin (BTC) is on track to hit new all-time highs by the end of 2024, according to Standard Chartered. In the view of the bank\u2019s global head of digital assets, Geoff Kendrick, who is quoted in a recent CoinDesk report, Bitcoin could climb to $125,000 if former U.S. President Donald Trump wins the upcoming election […]<\/p>\n","protected":false},"author":0,"featured_media":6173,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-6172","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/6172"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=6172"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/6172\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/6173"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=6172"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=6172"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=6172"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Political Impact on Bitcoin<\/h2>\n
Miner Activity Set to Influence Prices<\/h2>\n