Geoff Kendrick, Head of Crypto Research at Standard Chartered Bank, said that Donald Trump’s victory in the 2024 US presidential election will be a result of Bitcoin $58,156 He suggests that Bitcoin could reach new highs, regardless of the election results. Even if Kamala Harris becomes president, Bitcoin is predicted to reach $75,000.
The Impact of Elections on Bitcoin
Kendrick says the election results will affect the Bitcoin industry, but the risks associated with Harris’ presidency may be exaggerated. According to Kendrick, if Harris is elected president, there may be an initial drop in prices, but these declines will be evaluated as a buying opportunity by the market. It is anticipated that progress will continue regarding regulations.
Candidates’ Approach to Cryptocurrency
Trump has openly expressed support for the Bitcoin industry, and the Republican Party has pledged to defend Bitcoin mining. Trump spoke at the Bitcoin 2024 conference this year, giving positive messages about the industry. The party platform also includes Bitcoin and cryptocurrencies, and aims to protect freedoms in this area.
Harris’s Silence
Kamala Harris, on the other hand, prefers to remain silent on the subject of Bitcoin, and there is no mention of Bitcoin in the Democratic Party platform. This raises concerns about how a possible Harris-led administration will regulate cryptocurrencies. Although Harris has not openly opposed cryptocurrencies, it is thought that the strict regulatory policies of President Joe Biden’s term may continue.
Standard Chartered’s optimistic forecast that Bitcoin will reach $200,000 by the end of 2025 is noteworthy. While Trump’s positive approach to crypto is well-known, Harris’ silence on this issue creates uncertainty. Market players are closely following the impact of both candidates on Bitcoin and remain cautious about future regulations. Bitcoin investors may face various opportunities and challenges in both scenarios, so it is important to closely monitor market dynamics and regulatory changes.
Disclaimer: The information contained in this article does not contain investment advice. Investors should be aware that cryptocurrencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
