Standard Chartered Predicts Bitcoin (BTC) Price Could Hit $100,000 Before U.S. Presidential Election

Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, shared these projections in an email to The Block on Thursday.

Standard Chartered has predicted a substantial increase in the price of Bitcoin (CRYPTO: BTC) as the U.S. presidential election approaches in November.

Why It Matters: Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, shared these projections in an email to The Block on Thursday.

“As we approach the U.S. election, I expect $100,000 to be reached and then $150,000 by year-end in the case of a Trump victory,” Kendrick said.

He highlighted the Biden administration’s recent approval of spot Ethereum ETFs as a sign of pragmatism but noted that Biden’s veto of efforts to repeal SAB 121 still positions Trump as the more crypto-friendly candidate.

Kendrick pointed out the upcoming Non-Farm Payrolls data, suggesting that favorable numbers could propel Bitcoin to a new all-time high over the weekend.

“This would open the way for $80,000 by end-June,” he predicted.

Sticking with his bullish outlook, Kendrick reiterated his year-end target of $150,000 and an ambitious forecast of $200,000 by the end of 2025 for Bitcoin.

He noted that a $150,000 price would place Bitcoin’s market cap at $3 trillion, comparable to NVIDIA’s recent milestone.

Currently, Bitcoin is trading flat over the past 24 hours at $71,010, according to Benzinga Pro data.