Geoff Kendrick, head of cryptocurrency research at Standard Chartered, suggests that Donald Trump’s potential victory in the 2024 U.S. presidential elections could drive Bitcoin’s price to $125,000. Regardless of election outcomes, Kendrick emphasizes that Bitcoin 
$98,485 is likely to reach new peak levels. Even in the scenario where Kamala Harris becomes president, he predicts Bitcoin could still reach $75,000.
The Impact of Elections on Bitcoin
Kendrick notes that election results will affect the Bitcoin industry but cautions that the risks associated with Harris’s presidency may be overstated. He believes that if Harris is elected, there may initially be a price dip, which the market would perceive as an opportunity to buy. Progress in regulations is also expected to continue.
Candidates’ Approach to Cryptocurrency
Trump openly supports the Bitcoin industry, with the Republican Party pledging to defend Bitcoin mining. He conveyed positive messages to the sector during the Bitcoin 2024 conference. The party’s platform includes Bitcoin and aims to protect freedoms in this area.
In contrast, Kamala Harris has chosen to remain silent on Bitcoin, with no mention of it in the Democratic Party platform. This silence raises concerns about the regulatory stance of a potential Harris administration on cryptocurrencies. While Harris does not exhibit an openly critical stance, it is speculated that strict regulatory policies from the Biden administration may persist.
Standard Chartered’s optimistic forecast suggests that Bitcoin could reach $200,000 by the end of 2025. While Trump’s favorable approach to cryptocurrency is well-known, Harris’s silence creates uncertainty. Market players closely monitor the influence of both candidates on Bitcoin and remain cautious regarding future regulations. Investors in Bitcoin may encounter various opportunities and challenges in both scenarios, highlighting the importance of closely tracking market dynamics and regulatory changes.
