Standard Chartered: Bitcoin Will Reach a Record Level Next Month

Reading Time: < 1 minute

According to Standard Chartered’s head of forex and digital assets research, Geoffrey Kendrick, the price of Bitcoin may reach a new record high in August and could potentially hit $100,000 by the time of the US presidential election in November.

This prediction is based on the belief that Joe Biden will remain in the race, as the market perceives this as beneficial for a potential Donald Trump victory.

Kendrick also sees Trump as having a positive impact on Bitcoin, with a correlation between the former president’s electoral chances and the cryptocurrency’s price.

This is due to potential favorable treatment of regulation and mining under a Trump presidency.