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    Standard Chartered predicts Bitcoin surge to $125K with Trump win

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    Standard Chartered analyst, Geoff Kendrick, suggests that Bitcoin could reach $125,000 by year-end if Republicans win the U.S. mid-term elections. Kendrick speculates that Bitcoin could hit $73,000 by election day, then rise 4% following a Trump victory and another 10% in a few days. However, values may drop temporarily if Vice President Kamala Harris is elected. Kendrick’s comments follow a $20 million bet on Trump’s election victory by a crypto “whale”. Bitwise and Deribit back Kendrick’s predictions, while Ripple co-founder Chris Larsen has donated $11 million in XRP to Harris’s campaign. BlackRock CEO Larry Fink believes Bitcoin will grow regardless of the election result.

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    By the end of the year, Bitcoin might be valued at $125,000! According to Geoff Kendrick, an analyst at Standard Chartered Bank, this can happen if the Republicans take over Congress in the Nov. 5 elections in the States.

    Because of all the predictions and chatter about the U.S. elections and Bitcoin prices, Kendrick seems to be rooting for the Republicans.

    Geoff Kendrick thinks that the value of Bitcoin might hit $73,000 by election day which is Nov. 5. According to Kendrick, if Donald Trump, the former Republican president, is voted back for a second term, Bitcoin might rise around 4% when the results roll in, based on options info, and might go up another 10% within a few days.

    He doesn’t rule out the possibility of Bitcoin’s value falling for a bit if Kamala Harris, the current vice president, gets elected as president. But he also believes Bitcoin will end the year at about $75,000.

    There’s been a recent incident where an anonymous person, called a ‘whale’ in crypto terms, bet more than $20 million on Trump winning the election.

    Generally, the crypto community likes Trump more than they like Harris. Only Ripple co-founder Chris Larsen is an exception, as he donated $11 million worth of XRP (a type of cryptocurrency) to Harris’s campaign.

    Kendrick isn’t the only one to believe in Trump. An executive at Bitwise, a crypto asset manager, predicted Bitcoin would reach $92,000 if Trump wins. Deribit, a crypto exchange, thought Bitcoin could hit $80,000 by the end of November with a Trump victory.

    However, some more cautious people, like BlackRock CEO Larry Fink, said that Bitcoin’s value will grow no matter the election’s outcome.

    Source: Cointelegraph

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