Summary:
Bitcoin’s price has reached a new all-time high (ATH) following Donald Trump’s re-election, sparking excitement about future gains. Standard Chartered predicts this upward trend is only the beginning, with Bitcoin potentially reaching $125,000 by the end of 2024 and $200,000 by late 2025.
Main Points:
- Geoff Kendrick, Head of Global Digital Assets Research at Standard Chartered, shared that several factors are driving this bullish outlook, including Trump’s support for crypto policies like replacing SEC Chairman Gary Gensler, creating a national Bitcoin reserve, and aiming to establish the U.S. as a global leader in Bitcoin.
- Kendrick emphasized that the recent rise beyond $75,000 could soon lead to $80,000 due to strong investor interest. He expects continued growth fueled by factors like new stablecoin regulations and increased interest in Bitcoin-backed exchange-traded funds (ETFs).
- Standard Chartered’s data shows around $24 billion in net inflows into spot Bitcoin ETFs since their launch in January, with projections for over 400,000 Bitcoin inflows in 2024, potentially pushing prices even higher.
- Summary Review: Bitcoin’s price has reached a new all-time high (ATH) following Donald Trump’s re-election, sparking excitement about future gains. Standard Chartered predicts this upward trend is only the beginning, with Bitcoin potentially reaching $125,000 by the end of 2024 and $200,000 by late 2025.
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