Geoff Kendrick, global head of digital asset research at Standard Chartered, said at a briefing on Wednesday that after Trump's victory, the price of Bitcoin will reach $125,000 by the end of this year and $200,000 by the end of 2025, a forecast that echoes estimates made by analysts at research and brokerage firm Bernstein earlier this month.
Geoff Kendrick believes that many of Trump's pro-cryptocurrency promises, such as firing SEC Chairman Gary Gensler, establishing a national strategic Bitcoin reserve, and reshaping the United States into a "Bitcoin superpower," will drive Bitcoin up. Looking at Bitcoin options trading, Standard Chartered found that many investors are interested in prices around $80,000, suggesting that the cryptocurrency will reach that level "in the next week or two." (DLNews)