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If Donald Trump secures victory in the presidential election in November, Bitcoin could rise to $125K by the end of the year, while a win for Kamala Harris could result in a price of $75K, according to Standard Chartered.
The outcome of the US presidential election is crucial for the cryptocurrency market, but it has less impact compared to when Joe Biden was the Democratic nominee, stated Geoff Kendrick, the global head of digital assets research, in a report on September 12.
Kendrick emphasized that no matter the election’s outcome, Bitcoin is poised to achieve a new all-time high by the year’s end.
SAB 121 Advancements Will Persist In 2025 Regardless of Election Results
Kendrick also indicates that progress towards the repeal of SAB 121 will persist into the next year “regardless of who occupies the White House.” He noted, however, that the process might take longer if Harris is elected.
SEC seems firmly positioned on SAB 121…
They simply don’t want to give *regulated* financial institutions the power to custody crypto.
They seem to prefer the company they once allowed to IPO & then sued, to custody the majority of spot BTC ETF assets.https://t.co/YS0NcROmM8 pic.twitter.com/KjXvys0SNj
— Nate Geraci (@NateGeraci) September 10, 2024
Kendrick also mentioned that a re-steepening of the US Treasuries curve is creating “positive momentum” for the largest cryptocurrency by market capitalization.
A Decline in Bitcoin Price After a Harris Win Could Present a Buying Chance
Over the past year, Bitcoin has surged more than 122%, with some analysts attributing the market leader’s robust performance to growing expectations surrounding the US election.
As of 8:22 a.m. EST, BTC had increased over 2% in the past 24 hours, trading at $58,080.35.
If Harris emerges victorious, Kendrick cautions there may be a fleeting decline in Bitcoin’s price. However, he believes that any dip will likely be interpreted as a buying opportunity by investors who understand that regulatory progress will continue.
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