According to the latest forecast shared by London-based bank Standard Chartered in an email sent to The Block yesterday, Bitcoin will reach the $150,000 price target by the end of the year if Donald Trump wins the US presidential election in November.
The Republican’s victory could in fact make the American government, which has always been opposed to the world of digital assets, favorable to the expansion of the cryptographic industry and its regulatory regulation.
In this scenario, Bitcoin sees an important opportunity for appreciation, with predictions that drive cryptocurrency hodlers crazy.
Let’s see all the details below.
Standard Chartered Prediction: Bitcoin Price Will Reach $150,000 If Donald Trump Wins US Election
Yesterday Standard Chartered’s head of digital asset research, Geoff Kendrick, shared his insights with online newspaper The Block. predictions regarding the price of Bitcoin at the end of the year.
The analyst observed how, in a context in which macroeconomic indicators and developments on the political front have a decisive impact on the cryptocurrency market, Donald Trump’s victory in the US presidential elections could push Bitcoin up to $150,000.
Trump’s openness towards the digital asset sector, confirmed by his latest pro-crypto speeches during the election campaign, suggests that in the event of an election victory, market speculation could favor the growth of the value of Bitcoin, with super optimistic forecast.
This is what Kendrick reported verbatim:
“As we get closer to the US elections, I expect $100,000 and then $150,000 to be reached by the end of the year if Trump wins. The next big driver for BTC will therefore become the US elections.”
Kendrick himself believes that Bitcoin could start the rally immediately and reach a new all-time high over the weekend above $73,770, if the data from the “Not Farm Payrolls” of May (expected today) will have a positive outcome with more than 185k new payrolls in the United States.
In particular, a Non Farm Payroll report highlighting a strong labor market, synonymous with a robust economy, could bring enthusiasm and favor risk-on assets such as Bitcoin, with target $80,000 by the end of the month.
In any case, what is truly a catalytic event for the price of the currency is represented by the American presidential elections in November: with over 50 million Bitcoin and cryptocurrency holders in the United States, the outcome of the presidential election is poised to play a crucial role in shaping the future of Bitcoin.
Overall, digital asset analysis at Standard Chartered is optimistic about the near-term future of both the US economy and the crypto economy, and reiterates its ambitiously bullish forecast: Bitcoin to $150,000 by year-end if Trump wins , and then $200,000 by the end of 2025.
It should be underlined that a price of Bitcoin above 150,000 dollars would bring its capitalization to 3,000 billion dollars, slightly higher than the current capitalization of the tech giant Nvidia.
The impact of Trump’s possible victory in the US presidential elections for the crypto sector
As mentioned, in the event of victory in the presidential elections by the Republican Donald Trump, we would have decisive forecasts both on the price of Bitcoin and regarding the regulatory issue of digital assets within the country.
In fact, although the current Biden administration has unexpectedly shown pragmatism in approving Ethereum ETFs, it has always railed against the progress of the crypto industry.
President Biden recently set the veto on Staff Accounting Bulletin (SAB) no. 121 of the Securities and Exchange Commission (SEC), effectively overriding the majority of both chambers and preventing large financial institutions from starting to hold Bitcoin as liabilities on their books.
It should also be underlined that the now 81-year-old president (perhaps suffering from Alzheimer’s) had promised the previous week that he would not oppose it with a veto if the proposal was accepted by Congress. A few days later he seems to have changed his mind.
Donald Trump, on the contrary, has always been pro-active towards Bitcoin and the entire cryptographic sectormotivated to support its growth and regulatory legalization.
During his last meetings during the election campaign he even promised that, if elected, he would free Silk Road founder Ross Ulbricht and pardon him.
Ross is appreciated by the crypto community because he shares with them the ideals of decentralization and privacy, as well as having supported, albeit illegitimately, the growth of interest in Bitcoin in its first years of life.
The Republican has also expressed his desire to build a crypto-army to counter the oppression of the Biden administration.
Regarding the issue of the elections, Standard Chartered underlined how Trump’s victory could favor the onset of new regulations on the one hand and on the other help the United States with its very high public debt situation. Here is what was reported in a recent report:
“We believe a second Trump administration would be largely positive through a more favorable regulatory environment In a scenario of US fiscal dominance, we think bitcoin (BTC) It would provide a good hedge against de-dollarization and declining confidence in the United States.”
Finally, let us remember how Donald Trump holds a crypto portfolio with a value of 30 million dollarsin fact “given away” by various founders of memecoins who for marketing purposes have airdropped a good part of the supply of their tokens to the presidential candidate.
Despite their strong appreciation, Trump has never sold these coins, demonstrating support for the various projects.
Furthermore, according to what was reported by Arkham Intelligence, he also owns 471 ETH and 375 WETH for a total value of approximately 3.2 million dollars.
The majority of his wallet is made up of memecoins.
