SC Analyst Predicts Bitcoin ATH in August, Possible $100K Ahead of U.S. Elections

IconCryptoNewsTerminal Staff02 Jul, 2024

cryptonews.jpg

SC Analyst Predicts Bitcoin ATH in August, Possible $100K Ahead of U.S. Elections

Standard Chartered analyst Geoffrey Kendrick believes that Bitcoin is set to reach new heights in August and could potentially hit $100,000 by the time of the U.S. elections in November. In a recent report, Kendrick outlined several factors that could contribute to this bullish outlook. One key factor is the upcoming Democratic primary, which could result in a more favorable candidate for Bitcoin. If Joe Biden were to challenge President Donald Trump for the nomination, it could increase the chances of Trump winning the Republican nomination, which Kendrick sees as a positive catalyst for Bitcoin. Conversely, if Biden were to drop out of the race and be replaced by a weaker candidate, BTC could see weakness. Kendrick specifically mentions Michelle Obama as a potential candidate who could lead to a decline in Bitcoin's price. The deadline for candidates to file for the U.S. presidential election is August 4th, which is when Kendrick expects to have a clearer picture of Biden's intentions. If Biden decides to challenge Trump, it could provide an opportunity for Bitcoin investors to buy at a lower price.

Related News