If Donald Trump wins, Bitcoin will be worth $150,000

Whether you like it or not, the price of the crypto market is strongly influenced by events on the other side of the ocean. Quite ironic, the promise of crypto was to experience more freedom. However, that freedom refers to use, not to price movements.

Banner Bitcoin 1

According to Standard Chartered, the American elections can be of great importance for the course of the Bitcoin price. Bitcoin could even rise to $150,000 after a Trump victory.

Standard Chartered is a major international bank headquartered in London, United Kingdom. The company operates in more than 60 countries and offers a wide range of financial services, including retail and corporate banking, asset management, and investment banking.

ETFs divide politicians

Following the launch of US bitcoin exchange-traded funds at the start of this year, US politicians are divided over how to deal with crypto.

Nothing new of course, but now this topic is being used during campaign time. The US has historically taken a largely anti-crypto stance, but lawmakers have recently raised questions about how long this can or should continue.

“As we approach the US elections, I expect $100,000 to be reached and then $150,000 by the end of the year in the event of a Trump victory,” told Geoff Kendrick, head of digital assets research at Standard Chartered, on Bitcoin.

Elections will be the next driving force for Bitcoin

After Friday’s big jobs report, the next big driver for BTC will then be the US elections, he added. “The Biden administration recently showed pragmatism in approving the ETH ETFs, but then Biden vetoed efforts to repeal SAB 121. So Trump is still friendlier than Biden.”

SAB 121 refers to a change in law from the Securities and Exchange Commission that requires banks to list crypto as liabilities on their books.

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

Back to top button