Standard Chartered predicts Bitcoin could reach $150,000 if Donald Trump wins the presidency in 2024. The bank's analysts believe Trump's return could boost Bitcoin's value through policy changes and market sentiment.
A recent report highlights that Trump's known stance on deregulation and economic stimulus could favor a more relaxed regulatory environment for cryptocurrencies, fostering growth. Currently trading around $70,000, Bitcoin's value has fluctuated widely in recent years. Standard Chartered's projection hinges on the assumption that Trump's policies would benefit cryptocurrencies. During his previous term, there was substantial interest and investment in Bitcoin and other digital assets. This pattern could reemerge with his return to power, driving significant capital inflows into the market.
The report also emphasizes potential market volatility during the election period, which often benefits Bitcoin as investors seek alternative assets amid economic uncertainty. Trump's candidacy alone could create a buzz around Bitcoin, boosting its value.
However, the forecast acknowledges risks, such as regulatory crackdowns or adverse policy changes, which could dampen Bitcoin's prospects. The unpredictable nature of the cryptocurrency market, where sentiment can shift rapidly, is also a factor.
This prediction underscores the significant influence political events can have on digital assets. Investors and market watchers will closely observe the upcoming election and its potential impact on the cryptocurrency landscape. Additionally, Trump has become the first-ever Presidential candidate to accept Bitcoin donations, further highlighting the intersection of politics and cryptocurrency.