3 days ago
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Bitcoin's terms could scope a caller all-time precocious successful August and perchance ascent to $100,000 during the U.S. statesmanlike predetermination successful November, according to a study by Standard Chartered, arsenic quoted by media reports.
Geoffrey Kendrick, Standard Chartered Bank's caput of forex and integer assets research, was quoted arsenic saying that Bitcoin is apt to scope a caller all-time precocious successful August and deed $100,000 by U.S. predetermination day.
Bitcoin reached an all-time precocious of $73,700 successful March this year. Since then, it has been trading wrong a scope of $59,000 to $72,000.
Kendrick's forecast depends connected Joe Biden remaining successful the statesmanlike race, a script the marketplace believes would favour a Donald Trump victory.
The Standard Chartered expert considers Trump to beryllium "bitcoin-positive" and noted a affirmative correlation betwixt the erstwhile president's electoral prospects and the terms of Bitcoin.
"The logic present is that some regularisation and mining would beryllium looked astatine much favourably nether Trump," Kendrick said.
Standard Chartered expert considered a "least likely" script wherever Biden withdraws from the statesmanlike predetermination contention successful precocious July, suggesting that this could origin Bitcoin prices to dip to $50,000-$55,000.
"Notably, a $150,000 terms by end-2024 would spot bitcoin articulation the $3 trillion nine successful presumption of marketplace cap, pursuing NVDA’s $3 trillion marketplace headdress which was reached yesterday," helium said.
On July 3, Bitcoin dropped implicit 3 percent amid reports that trading level Robinhood plans to motorboat crypto futures successful the US and Europe.
The starring cryptocurrency was trading astatine $60,283.8, down 2.83 percent. On June 24, it had reached a debased of $60,263.
Several different cryptocurrencies were besides experiencing declines. Ethereum, the second-most valued integer asset, was trading astatine $3,308.98, down 3.13 percent, portion Tether remained level astatine $1.
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HomeMarketsCryptocurrencyBitcoin poised to deed all-time precocious successful August, apt to surge to $100,000: Standard Chartered
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