Bitcoin Price Predicted to Reach $100,000 Before U.S. Presidential Election

• Bitcoin's price could reach $100,000 before the U.S. election in November.
• Standard Chartered analyst predicts $150,000 by year-end with a Trump victory.
• Analyst expects fresh all-time-high if Non-Farm Payrolls data is positive.
• $150,000 price target by 2024 could put Bitcoin in the $3 trillion market cap club.
• Bitcoin currently trading at $70,979, flat over the past 24 hours.
• The Block is an independent media outlet with financial disclosures.

Summary :
Standard Chartered analyst Geoffrey Kendrick predicts that the price of Bitcoin could reach $100,000 before the U.S. presidential election in November. He believes that if there is a Trump victory, the price could even reach $150,000 by the end of the year. Kendrick points to the recent approval of spot ether ETFs by the Biden administration as a sign of pragmatism, but notes that Biden vetoed efforts to repeal SAB 121, making Trump appear more friendly towards cryptocurrencies. Kendrick also mentions that if tomorrow's Non-Farm Payrolls data is favorable, it could lead to a fresh all-time high for Bitcoin's price over the weekend, potentially reaching $80,000 by the end of June. He maintains his year-end price prediction of $150,000 and his end-of-2025 forecast of $200,000 for Bitcoin. Kendrick highlights that if Bitcoin reaches a price of $150,000 by the end of 2024, it would join the $3 trillion market cap club. Currently, Bitcoin is trading at $70,979. Please note that this article is for informational purposes only and does not constitute legal, tax, investment, financial, or other advice.

Sources :

- TheBlock