An expert from Standard Chartered predicts that Bitcoin (BTC) could reach $200,000 by the end of 2025, regardless of the outcome of the 2024 U.S. presidential election. Geoff Kendrick, the bank’s director of digital asset research, outlined three key factors that could drive this price surge.
Kendrick highlighted the potential abolition of Staff Accounting Bulletin-121, which currently restricts banks from holding digital assets for clients. Both former President Donald Trump and Vice President Kamala Harris are expected to support removing this regulation.
Additionally, Kendrick pointed to inflationary trends and declining interest rates, noting that the yield on 10-year bonds has surpassed that of 2-year bonds for the first time in 2024. This could signal a more favorable environment for Bitcoin’s growth.
The final factor Kendrick cited is the positive inflow of funds into Spot BTC ETFs in the U.S. He also anticipates further crypto ETFs, particularly a Spot SOL ETF, which could boost market activity.
Kendrick mentioned the potential replacement of Gary Gensler as the chair of the U.S. Securities and Exchange Commission (SEC). Gensler is known for his stringent stance on cryptocurrencies, and a leadership change at the SEC could introduce a more favorable regulatory landscape for digital assets.
Kendrick believes that Bitcoin could hit $125,000 by the end of 2024 depending on the election outcome. However, he remains confident that BTC will reach an all-time high of $200,000 by late 2025.
Bitcoin is currently trading at around $63,700, which is up nearly 1.25% over the past 24 hours. Despite recent volatility, Bitcoin has exhibited strong long-term performance, with a 124% increase since September 2023. Its market capitalization is $1.26 trillion, constituting 56% of the total cryptocurrency market.
Matthew Sigel, digital asset research director at VanEck, echoed Kendrick’s optimism, attributing Bitcoin’s long-term growth to increasing demand for decentralized networks, rising institutional adoption, and greater government involvement in cross-border transactions.
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