Standard Chartered Bank, a major investment bank, has recently published a report entitled “The Future of Investment Banking: A Guide to the New World Economy”. bullish report Bitcoin prospects. BTC currently trades at $57,800 after reaching a record high of $73,737 this March.
The ATH was released at a moment when the US Securities and Exchange Commission approved Bitcoin ETF. This led to an influx in investments by trillion-dollar funds such as Greyscale, Fidelity and BlackRock.
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Standard Chartered goes bullish on BTC
Standard Chartered forecasts that Bitcoin will reach six-figures at $125,000 per coin if Donald Trump wins a second term as president. Bank also projected that BTC may reach $75,000 under Kamala if she won the White House.
Geoff Kendrick is the global head of research for digital assets at Deutsche Bank. He explained that Trump and Harris can have a significant impact on Bitcoin as concerns about regulatory issues loom.
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Kendrick emphasized that Bitcoin may temporarily decline if Harris won the election. He said that it will eventually rise in the charts. Investors will use the drop to buy it at a lower price. BTC’s price could soar to six figures if Trump is elected, according to him.
“A Harris victory would likely trigger an initial (Bitcoin) price decline. But we would expect dips to be bought. As the market recognizes that progress on the regulatory front will still be forthcoming, and as other positive drivers take hold,” He said.
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“It seems clear that a Trump victory would be BTC positive,” He said. “A Harris administration would be much less negative for digital assets than a second Biden administration would have been,” Kendrick said. The upcoming Presidential elections will therefore be critical for Bitcoin, cryptocurrency in general and stock markets.
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Source: watcher.guru
