Standard Chartered, a major UK-based bank, increased its 2024 year-end price forecast for Bitcoin to $ 150,000, expressing its expectation of a rise in cryptocurrencies in the long term. In the increase of this forecast, it was stated that the possible election victory of US presidential candidate Donald Trump could have positive consequences for Bitcoin and other cryptocurrencies.
The bank suggested that the scenario of increasing risks in the financial dominance of the United States and investors turning to alternative assets could favor Bitcoin and other cryptocurrencies. It also pointed out that the FED's profiting from government debt increases these risks.
Bank analyst Geoff Kendrick emphasized in the report that Trump's victory would loosen tight regulations, actively support Bitcoin through spot ETFs, and provide a good hedge in case confidence in the US Treasury market wanes. The bank also set the Bitcoin price target for 2025 at $200,000. By raising its 2024 year-end price forecast for Bitcoin to $150,000, it expressed its expectation of a rise in cryptocurrencies in the long term. In the increase of this forecast, it was stated that the possible election victory of US presidential candidate Donald Trump could have positive consequences for Bitcoin and other cryptocurrencies.
