Standard Chartered Predicts Bitcoin to Reach $100,000 Before US Elections

Bitcoin is projected to rise to $100,000 by November, with a new all-time high potentially being set as early as this weekend, according to Standard Chartered, reports The Block.

This early formation of a new ATH could be driven by “favorable” US employment data on June 7. In such a scenario, the digital gold’s price could approach $80,000 by the end of the month, experts indicated.

“As the US elections approach, I expect the price to reach $100,000, and in the event of a Trump victory, $150,000 by the end of the year. The latter is more positively inclined than Biden. The current administration has shown pragmatism, approving an ETH-ETF, but subsequently, the president vetoed a resolution to repeal SAB 121,” the statement reads.

Standard Chartered confirmed their target for Bitcoin’s growth to $150,000 by the end of the year and $200,000 by the end of 2025.

Earlier, the institution’s experts identified SOL and XRP as contenders for ETF launches next year.

QCP Capital has noted growing expectations of a “decisive breakthrough” of the all-time high by the end of June.

Previously, Glassnode recorded a renewed interest in Bitcoin purchases.