As the U.S. presidential election draws nearer, experts are offering bold predictions for Bitcoin’s price trajectory. Geoff Kendrick, head of digital assets research at Standard Chartered, forecasts Bitcoin could surge to $100,000 leading up to the election and potentially hit $150,000 by year-end if Donald Trump secures a victory.
Bitcoin Surge: Factors Driving Bullish Outlook
Kendrick attributes this bullish outlook to Donald Trump’s perceived crypto-friendly stance. He anticipates Bitcoin could reach a fresh all-time high over the upcoming weekend, contingent on a favorable nonfarm payrolls report due on Friday.
Global Monetary Policy Trends
The forecast comes against the backdrop of shifting monetary policy trends globally. Central banks in developed economies, including the European Central Bank and the Danish central bank, have recently implemented rate cuts. While the US Federal Reserve has yet to signal an imminent rate decrease, economists believe that recent softening in inflation and economic growth indicators could spark such a move.
Kendrick maintains his year-end target of $150,000 for Bitcoin, suggesting that such a price surge would place market capitalization of Bitcoin at $3 trillion, comparable to NVIDIA’s recent milestone valuation.
Image from Wallpapers.com
Disclosure Statement: Miami Crypto does not take any external funding, or support to bring crypto news to the readers. We do not have any conflicts of interest while writing news stories on Miami Crypto.