Standard Chartered: Bitcoin Will Reach $73K on US Election Day

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According to Standard Chartered Global Head of Digital Assets Research, Geoff Kendrick, Bitcoin’s all-time high of over $73,000 could be reached on Nov. 5, coinciding with the US presidential election.

Kendrick bases on an examination of Bitcoin’s derivatives and trading volume indicators.

He explains that using daily volume levels and popular strike levels, their analysis points to a potential price of $73,000 on election day.

Furthermore, if Donald Trump wins the election, the options market hints at a possible 4% increase in price post-election with a potential total rise of 10% in the days following.

Kendrick also highlights that heavy open interest in BTC call options at the $80,000 strike price expiring on Dec. 27 suggests a potential rapid movement towards that level.