Bitcoin Price- Bitcoin Expected to Hit New All-Time Highs by Year-End

sevval12/09/20241 Mins read283

Bitcoin Price- Bitcoin Expected To Hit New All-Time Highs By Year-End

Bitcoin Price Forecast: What to Expect by Year-End Based on Election Results

Bitcoin Price– Investment bank Standard Chartered predicts that Bitcoin (BTC) is set to achieve new all-time highs by the end of 2024. The bank’s report suggests that Bitcoin could reach approximately $125,000 if Donald Trump wins the U.S. presidential election or around $75,000 if Kamala Harris is elected.

Table of Contents

Impact of U.S. Presidential Election on Bitcoin

While the outcome of the U.S. presidential election is important for digital assets, Standard Chartered believes its impact on Bitcoin’s price will be less significant than in previous years. The bank notes that Bitcoin’s trajectory will be influenced more by broader market trends and regulatory developments.

Regulatory Developments and Bitcoin’s Growth

Positive regulatory changes are expected to support Bitcoin’s growth. The anticipated repeal of SAB 121, which imposes strict accounting rules on banks’ digital asset holdings, is seen as a key factor. The bank foresees continued progress in this area through 2025, although it may be slower if Harris is elected.

Market Reactions to Election Outcomes

Bitcoin is expected to experience an initial sell-off if Kamala Harris wins the election. However, this dip is anticipated to be short-lived as investors recognize that regulatory advancements will continue and other positive market catalysts will drive Bitcoin’s recovery.

Influence of U.S. Treasury Curve on Bitcoin

The report also highlights the role of the U.S. Treasury curve’s re-steepening in generating positive momentum for Bitcoin. This factor is contributing to the overall bullish outlook for the cryptocurrency market.

Long-Term Outlook for Bitcoin

Standard Chartered’s report emphasizes that, regardless of the election outcome, Bitcoin’s long-term outlook remains positive. The continued evolution of regulatory frameworks and market dynamics is expected to bolster Bitcoin’s value and stability in the coming years.

Previous post Deutsche Bank Report: U.S. Consumers' Positive Shift Towards Cryptocurrency

Next post Uniswap CEO Addresses Deployment Bribery Allegations

Written by

sevval

Şevval has been actively writing since 2022 and is a third-year mathematics student at Ankara University. Her interest in writing is shaped particularly around innovative technologies such as Web3, artificial intelligence, and blockchain. She closely follows developments in these fields and aims to convey complex topics to readers in a clear and engaging manner. She enjoys combining her mathematical knowledge with technology to create content and strives to raise awareness about the digital world of the future.

You must be logged in to post a comment.