Bitcoin Could Hit $100,000 Before Elections

Summary:
A recent forecast from Standard Chartered predicts that Bitcoin might reach a new all-time high in August and could be valued at $100,000 by the US presidential elections in November 2024. Currently trading around $61,066, Bitcoin’s price is expected to surge, according to Geoffrey Kendrick, head of forex and digital asset research at the bank. Kendrick also foresees Bitcoin reaching $150,000 by the end of 2024 and $200,000 by 2025, which would place it in the $3 trillion market capitalization club alongside Nvidia.
The US presidential election is highlighted as a significant factor influencing Bitcoin’s price. Kendrick suggests that President Joe Biden’s decision to run for re-election would create a buying opportunity for investors, but his potential withdrawal could drop Bitcoin’s price to $50,000. The stance of other candidates, including Michelle Obama and Donald Trump, on Bitcoin regulation and mining could also impact its value. Investors are advised to stay vigilant about political and economic developments affecting the crypto market.
Additionally, Cointribune promotes its "Read to Earn" program, encouraging readers to earn points and access exclusive rewards by engaging with their content.