Could Donald Trump’s Win Push Bitcoin to $150,000? Expert Insights Revealed!
Geoffrey Kendrick, a prominent figure in Standard Chartered’s forex and digital assets research, has forecasted a favorable outlook for Bitcoin’s price in the coming months. According to Kendrick’s analysis, Bitcoin could soar to $80,000 per unit by the end of June, with a potential surge to $150,000 by the close of 2024.
Positive Outlook Tied to Payroll Data and Political Events
Kendrick’s projections are anchored in various factors, including the release of positive payroll data and the potential impact of the U.S. presidential election. He suggests that if the forthcoming payroll data trends favorably, Bitcoin could hit new all-time highs over the weekend, setting the stage for further growth.
Additionally, Kendrick speculates that a victory for Donald Trump in the U.S. election would likely provide a boost to the cryptocurrency industry, potentially propelling Bitcoin’s value to $100,000 in the near term and $150,000 by the end of 2024.
Market Sentiment and Recent Developments
Market sentiment surrounding Bitcoin and the broader crypto market has experienced an uptick since May, attributed in part to recent developments such as the approval of ether (ETH) exchange-traded funds (ETFs) and growing political support for the industry in the United States. The approval of ETH ETFs and the overall support from U.S. political parties have contributed to a positive outlook among investors.
ETF Inflows Signal Growing Confidence
Inflows into exchange-traded funds (ETFs) tracking Bitcoin have been notable, with the total surpassing $15 billion in net inflows on a recent Tuesday, marking the first time this milestone has been achieved since the ETFs went live in January. This surge in inflows has bolstered confidence among Bitcoin traders, particularly after a period of stagnation and even outflows observed from mid-April to early May.
With favorable payroll data on the horizon and the potential implications of the U.S. presidential election, Bitcoin appears poised for significant price movements in the coming months. Geoffrey Kendrick’s forecasts, rooted in both economic indicators and political events, suggest that Bitcoin’s price could see substantial gains, reaching $80,000 by June and potentially hitting $150,000 by the end of 2024. As market sentiment continues to improve and investor confidence grows, Bitcoin’s trajectory remains one to watch closely.
