TechFlow news, Geoff Kendrick, Head of Foreign Exchange and Digital Assets Research at Standard Chartered, stated in his latest analysis report that regardless of the outcome of the U.S. presidential election, Bitcoin is poised to reach a new all-time high by the end of 2024. Kendrick forecasts Bitcoin could reach $125,000 if Trump wins, and $75,000 if Harris is elected.
Kendrick emphasized that compared to market expectations, the U.S. election has a relatively limited impact on Bitcoin's future price trajectory. He pointed out that positive shifts in the regulatory environment are among the key drivers for Bitcoin's price growth. Regardless of who occupies the White House, the process of easing digital asset regulations—particularly the reversal of SAB 121—is expected to continue advancing into 2025.
In addition, Kendrick highlighted developments in the U.S. Treasury market as supportive for Bitcoin’s long-term outlook. He anticipates a seasonal rebound in inflows to spot Bitcoin ETFs in October.
