Bitcoin Price: Will BTC Pass New Highs This Weekend?
CryptoNewsTerminal Staff06 Jun, 2024
Bitcoin Price: Will BTC Pass New Highs This Weekend?
Geoffrey Kendrick, an analyst at Standard Chartered (SC), predicts that "if the US non-farm payrolls data, due out on Friday, is market-friendly, then bitcoin could reclaim its all-time high over the weekend. In that case, BTC could hit $80,000 by the end of June." Kendrick also said that "if Donald Trump wins the US presidential election in November, bitcoin could hit $100,000 by year-end and could then go on to target $150,000. The Biden administration has made some pro-crypto moves recently, such as approving a physically settled ether (ETH) exchange-traded fund (ETF), but it has also vetoed congressional efforts to overturn accounting guidance (SAB 121) that requires financial firms to hold crypto assets in custody. Therefore, Trump is likely to be viewed as more pro-crypto than Biden." It is important to note that these are just predictions, and the actual price of bitcoin could vary significantly. However, Kendrick's analysis provides some insight into the factors that could影響 affect the price of bitcoin in the coming months.
