Bitcoin (BTC), the world’s largest and most renowned cryptocurrency, is on a trajectory poised to break new ground by the end of this year, according to a recent report from investment bank Standard Chartered (STAN). Despite the looming U.S. presidential election in November, the bank’s analysis suggests that Bitcoin’s rise is largely unaffected by the election’s outcome.
The anticipation surrounding Bitcoin’s future performance remains high, regardless of whether President Donald Trump or Vice President Kamala Harris takes the reins of the White House. Standard Chartered’s report, authored by Geoff Kendrick, global head of digital assets research, indicates that Bitcoin could reach astonishing new highs, with projections estimating the cryptocurrency could hit approximately $125,000 if Trump wins or around $75,000 should Harris emerge victorious.
This optimistic forecast is underpinned by several key factors that are expected to drive Bitcoin’s growth. One of the most significant catalysts is the ongoing relaxation of regulations surrounding digital assets. Standard Chartered highlights the anticipated repeal of SAB 121, which imposes stringent accounting rules on banks’ digital asset holdings. This regulatory shift is anticipated to unfold gradually in 2025, regardless of the election’s outcome, though it may face delays under a Harris presidency.
Furthermore, the report points to a “re-steepening” of the U.S. Treasury curve as another positive force propelling Bitcoin’s momentum. This financial trend is seen as a favorable development for Bitcoin, contributing to the cryptocurrency’s strong upward trajectory.
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While a Harris victory might initially trigger a brief sell-off in Bitcoin, Standard Chartered’s Kendrick believes this dip will be short-lived. Investors are expected to quickly recognize that regulatory progress will continue, albeit at a slower pace. As such, any temporary market corrections are likely to be short-lived as positive factors and market dynamics take over, driving Bitcoin to new heights.
In conclusion, regardless of the outcome of the U.S. presidential election, Bitcoin’s path to achieving new all-time highs appears increasingly certain. With favorable regulatory developments and positive market momentum on the horizon, Bitcoin enthusiasts and investors can look forward to a potentially record-breaking end to the year.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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