Bitcoin is poised to reach a new record by the year’s end, irrespective of the results of the US presidential election, according to Standard Chartered, reports The Block.
“A Trump victory would push the price to $125,000, while Harris would lead to $75,000,” the review states.
Analysts believe that a Republican administration would accelerate progress in pro-cryptocurrency policies. Conversely, a Democratic win could cause a short-term price dip before shifting to positive factors.
According to the prediction platform Polymarket, Harris leads Trump by 1%. The betting volume on the outcome has approached $900 million.
Standard Chartered asserts that the impact of the US presidential election on Bitcoin’s future trajectory is less significant than during the time when Joe Biden was the Democratic candidate.
Experts based their forecast on the response to the evolving regulatory landscape for digital assets.
“Progress in easing regulations — particularly the repeal of SAB 121, which imposes strict accounting rules for banks regarding cryptocurrency holdings — will continue in 2025 regardless of who is in the White House,” the review states.
As drivers, experts also mentioned the decline in US Treasury bills and the recovery of demand for BTC-ETF in October.
By the end of the year, the price of digital gold could reach $90,000 if the Republican candidate wins or fall to $30,000 if Kamala Harris prevails, according to Bernstein.
Bitwise’s Chief Investment Officer Matt Hougan concluded that politicians’ attitudes are irrelevant to the crypto industry. A similar opinion was expressed by former BitMEX CEO Arthur Hayes.
In August, journalists questioned Harris’s support for the digital asset industry following her absence from the Crypto4Harris event. Her campaign denied these claims.
Earlier, Bloomberg noted Bitcoin companies’ hopes for Donald Trump’s return to the White House.