{"id":18067,"date":"2024-10-24T20:25:36","date_gmt":"2024-10-24T17:25:36","guid":{"rendered":"https:\/\/forklog.com\/en\/bitcoin-poised-to-surpass-73000-amid-us-elections-analyst-predicts\/"},"modified":"2024-10-24T20:25:36","modified_gmt":"2024-10-24T17:25:36","slug":"bitcoin-poised-to-surpass-73000-amid-us-elections-analyst-predicts","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/bitcoin-poised-to-surpass-73000-amid-us-elections-analyst-predicts\/","title":{"rendered":"Bitcoin Poised to Surpass $73,000 Amid US Elections, Analyst Predicts"},"content":{"rendered":"<p>On November 5, the leading cryptocurrency could approach its <span data-descr=\"all-time high\" class=\"old_tooltip\">ATH<\/span> above $73,000. This view was <a href=\"https:\/\/www.theblock.co\/post\/322898\/bitcoin-could-test-its-all-time-high-above-73000-on-day-of-us-election-says-standard-chartered-analyst\">expressed<\/a> by Jeff Kendrick, head of digital asset research at Standard Chartered, based on an analysis of derivatives and trading volume metrics.<\/p>\n<p><!--more--><\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cWe use daily bitcoin turnover indicators and popular <span data-descr=\"fixed price at which an option can be bought or sold\" class=\"old_tooltip\">strike prices<\/span> to assess price movements post-election. Our base scenario is that the price of digital gold will be around $73,000 on election day,\u201d noted the specialist.<\/cite><\/p><\/blockquote>\n<p>He noted that in a scenario where Donald Trump wins, option break-even points indicate a potential price increase of about 4% immediately after the results are announced. Further growth of up to 10% is possible in the following days.<\/p>\n<p>The analyst emphasized that the dynamics of the derivatives market provide insights into potential price movements post-election. Meanwhile, a high level of <span data-descr=\"contracts giving the right to buy an asset at a fixed price until a certain date\" class=\"old_tooltip\">call options<\/span> based on bitcoin expires on December 27 with a strike price of $80,000.<\/p>\n<h2 class=\"wp-block-heading\">Republicans Could Boost Bitcoin Price<\/h2>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cA Republican victory could lead to a rise in bitcoin&#8217;s price to $125,000 by the end of the year,\u201d noted a Standard Chartered representative.<\/cite><\/p><\/blockquote>\n<p>Conversely, if Kamala Harris becomes president, the price of the leading cryptocurrency could significantly drop. However, according to Kendrick, by the end of the year, the price will recover to around $75,000.<\/p>\n<p>The expert also considered other indicators, noting the following:<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cBitcoin&#8217;s price has risen in recent weeks, coinciding with other trades popular among Trump supporters. According to RealClearPolitics data, Trump&#8217;s current chances of winning are estimated at 59%, while other markets like Polymarket indicate a 75% probability.\u201d<\/cite><\/p><\/blockquote>\n<p>The researcher added that the recent drop in bitcoin&#8217;s price to a local low of $65,200 is likely the last before the upcoming US presidential elections.<\/p>\n<p>Earlier, Bernstein analysts predicted the price of the leading cryptocurrency to reach $200,000 by the end of 2025.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>On November 5, the leading cryptocurrency could approach its ATH above $73,000. This view was expressed by Jeff Kendrick, head of digital asset research at Standard Chartered, based on an analysis of derivatives and trading volume metrics.<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,1146,1280,26],"class_list":["post-18067","post","type-post","status-publish","format-standard","hentry","category-news-and-analysis","tag-bitcoin-price","tag-cryptocurrency-market-forecasts","tag-elections","tag-usa"],"aioseo_notices":[],"amp_enabled":true,"views":"7","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18067","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=18067"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/18067\/revisions"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=18067"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=18067"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=18067"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}