Standard Chartered Bank analyst: Trump's victory will help push Bitcoin to $125,000 by the end of the year
Geoff Kendrick, the global head of digital assets research at Standard Chartered Bank, said that Bitcoin prices may experience a pullback before the US presidential election on November 5th, and volatility is expected to increase in the coming days. As traders choose to close their positions and take profits before the election, the possibility of Bitcoin breaking through its historical high of more than $73,700 before the US election is decreasing.
Kendrick also added that if the Republicans (Trump) win a big victory in the US Congress, Bitcoin prices will experience even greater volatility, which could lead to Bitcoin reaching $125,000 before the end of the year and triggering a new round of altcoin craze.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
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