Bitcoin is predicted to rise to $ 100,000 in November 2024

Jeffrey Kendrick, a top manager at Standard Chartered, believes that the price of bitcoin will reach a new all-time high in August and show growth above $ 100,000 after the US presidential election.

According to Geoffrey Kendrick, Head of Foreign Exchange and Digital Assets Research at Standard Chartered, the international financial corporation, the market is waiting to see how the situation with the US presidential election will unfold. «Bitcoin will reach a new all-time high in August and exceed $ 100,000 in November,» Kendrick said.

He noted that if Donald Trump wins the election, the regulation of mining and the cryptocurrency industry in general will be more liberal than under the current White House administration. And if the current US President Joe Biden drops out of the race in July, the price of BTC $55,874.40 Bitcoin -2.20% Market capitalization $1.1 trillion VOL. 24 hours $2.68 billion could fall to $ 50,000.

Kendrick added that the inflow of funds into spot bitcoin ETFs will continue, and investor interest in these products will remain high. Earlier it became known that Standard Chartered Corporation has launched a department for spot trading in bitcoin and ethereum.