While bullish and $100,000 calls for Bitcoin continue to increase, a new prediction came from the giant bank Standard Chartered.
Accordingly, Standard Chartered, which expects $ 150,000 in Bitcoin, announced that it expects BTC to reach $ 100,000 before the US presidential elections this year.
Speaking to The Block, Geoffrey Kendrick, head of digital assets research at Standard Chartered, said that if Friday's US Nonfarm Payrolls data comes back positive, the Bitcoin price could reach an all-time high over the weekend.
“As the US approaches the presidential election in November, I expect Bitcoin to reach $100,000 before the election and then reach $150,000 by the end of the year in the event of a Trump victory.
The Biden administration recently showed pragmatism in approving spot Ethereum ETFs, but Biden subsequently vetoed efforts to repeal SAB 121.
So Trump is still more pro-cryptocurrency than Biden.”
Announcing his near-term BTC forecast, Kendrick drew attention to the US Non-Farm Employment data to be announced on Friday and stated that if this data is positive, he expects the Bitcoin price to reach its all-time high over the weekend.
According to Standard Chartered analyst Kendrick, the positive data of this data will pave the way for Bitcoin to reach $ 80,000 by the end of June.
Kendrick recently reiterated that Standard Chartered Bitcoin forecast is $150,000 by the end of 2024 and $200,000 by the end of 2025.
*This is not investment advice.