Standard Chartered Lifts Bitcoin Price Forecast to $125,000, Betting on Trump Victory

With all the volatility in the space right now, big financial players in the U.S. are updating their forecasts for top digital coins.

Standard Chartered has raised its price forecasts for Bitcoin, predicting that the cryptocurrency will reach new all-time highs by the end of the year, taking into account the U.S. presidential election.

In its latest report, the bank suggests that BTC could reach around $125,000 if Donald Trump wins, while a Kamala Harris victory might see it hit around $75,000.

The report highlights positive catalysts such as regulatory reform that are expected to drive Bitcoin's price upwards. Specifically, the relaxation of stringent regulations, like the repeal of SAB 121, which affects banks' digital asset holdings, is anticipated to continue progressing into 2025. This regulatory progress, though possibly slower under a Harris administration, is seen as a major factor supporting Bitcoin's long-term growth.

Standard Chartered also notes that Bitcoin might experience a short-term sell-off if Harris wins the election, but any decline is expected to be temporary. Investors are likely to seize the opportunity to buy the dip, recognizing that regulatory improvements and other positive market developments will sustain Bitcoin's upward trajectory.

In addition to regulatory changes, the report highlights the re-steepening of the U.S. Treasury curve as a factor contributing to Bitcoin’s positive momentum. The combination of these market drivers is projected to keep Bitcoin on an upward path, even if initial reactions to the election result cause some volatility.

With major players like Standard Chartered adjusting their predictions, investors have a prime opportunity to capitalize on the potential of cryptocurrencies. The rise of Bitcoin ETFs and regulatory progress in the crypto world indicate a thriving market, attracting both traditional and crypto-savvy investors.

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