Summary
Geoff Kendrick from Standard Chartered predicts Bitcoin could reach $125,000 if Donald Trump is re-elected, or $75,000 should Kamala Harris win. Despite initial price dips, he believes market participants would see them as buying opportunities. The Bitcoin market could rally towards $200,000 by the end of 2025. Daan Crypto Trades highlights September’s historical context as a local bottom, predicting potential price increases in the fourth quarter as Bitcoin shows resilience in its price performance.

Geoff Kendrick, the Head of Crypto Research at Standard Chartered Bank, has made optimistic forecasts regarding the price of Bitcoin in relation to the outcome of the 2024 United States presidential election. Kendrick suggests that if Donald Trump is re-elected, Bitcoin could surge to an astonishing $125,000. Conversely, he indicates that a victory for Vice President Kamala Harris could still elevate Bitcoin to about $75,000. He emphasizes that the political climate will indeed affect the cryptocurrency market, but he believes the potential risks associated with a Harris administration may be overstated. Kendrick anticipates that by the end of 2024, Bitcoin’s value will reach new all-time highs, projecting a close approximation of $125,000 in the event of a Trump win and around $75,000 should Harris prevail. He notes that while an initial decline in Bitcoin’s price could follow a Harris victory, investors are likely to see this as an opportunity to buy, particularly due to ongoing regulatory improvements. Interestingly, Kendrick challenges the skepticism surrounding Harris’s stance on Bitcoin, suggesting her administration’s approach to digital assets may be more favorable than that of President Biden’s current administration. Furthermore, Standard Chartered maintains a long-term bullish outlook, predicting Bitcoin could reach $200,000 by the end of 2025, regardless of the election results. Moreover, crypto analyst Daan Crypto Trades has discussed Bitcoin’s historical trends, observing that September usually presents challenges for Bitcoin, yet often serves as a precursor to upward movements in the fourth quarter. Following significant declines in Bitcoin’s value earlier in August and September, the cryptocurrency is currently showing resilience with a trading price of $58,360. Daan emphasizes that breaking above the critical resistance level of $65,000 could lead to further positive movement, targeting prices around $70,000.

The discussions surrounding Bitcoin’s future price are intertwined with political dynamics, particularly with the upcoming 2024 U.S. presidential election. Predictions made by financial experts like Geoff Kendrick serve to highlight the influence of political outcomes on cryptocurrency markets. Kendrick’s forecasts suggest that Bitcoin’s price could reach historic highs depending on which candidate emerges victorious. This context underscores the volatility and sensitivity of digital assets to external factors, thus necessitating an understanding of market reactions to political events and regulatory environments. The commentary provided by Daan Crypto Trades adds a technical analysis perspective, reflecting on historical patterns and current trading behaviors in the context of Bitcoin’s price swings.

In conclusion, the price predictions for Bitcoin by Geoff Kendrick of Standard Chartered Bank hinge significantly on the outcome of the 2024 U.S. presidential election, with projections of $125,000 for a Trump re-election and $75,000 for a potential Harris presidency. Additionally, the analyst’s insight into market psychology post-election underscores a general optimism towards Bitcoin’s value amidst regulatory progress. The analysis by Daan Crypto Trades complements this outlook, indicating potential upward trends in Bitcoin prices for the fourth quarter. Collectively, these perspectives suggest a bullish sentiment surrounding Bitcoin as it navigates through both political landscapes and market dynamics into 2025 and beyond.

Original Source: www.newsbtc.com

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