He believes that if Donald Trump wins the 2024 U.S. presidential election, Bitcoin could skyrocket to $125,000.
But even if Vice President Kamala Harris becomes president, Kendrick thinks Bitcoin will still reach new heights, hitting around $75,000.
Standard Chartered forecasts Bitcoin’s future based on the 2024 election
Kendrick’s new report suggests that Bitcoin is on track to set new records no matter who wins the election. He explains that the election outcome will impact Bitcoin, but the risks of a Harris presidency might be overblown.
Kendrick wrote, “BTC will end 2024 at fresh all-time highs under either election outcome – around $125,000 with Trump or about $75,000 with Harris.” This means Bitcoin is likely to hit new records, whether Trump or Harris wins.
JUST IN: A Trump victory could send #Bitcoin to $125,000, but new ATHs are likely no matter who wins election, says Standard Chartered bank 🚀 pic.twitter.com/SfGoRSyKwn
— Bitcoin Magazine (@BitcoinMagazine) September 12, 2024
While a win by Harris might cause a short-term drop in Bitcoin’s price, Kendrick believes this dip will be temporary. He expects the market to bounce back as it becomes clear that progress on regulations will continue. In other words, the initial price drop might be just a bump in the road, with the market eventually seeing better days.
For Bitcoin investors, it’s important to keep an eye on the election results, but Kendrick’s report suggests staying optimistic. Even if things don’t look great right away, the long-term picture for Bitcoin is bright. The saying goes, “Don’t put all your eggs in one basket,” but for Bitcoin, it seems like the future could still be golden no matter who ends up in the White House.
Disclaimer
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