Standard Chartered predicts Bitcoin growth to $200 thousand
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Johny Smith
2024/09/23
3 mins read
Since the beginning of this year, the flagship of the crypto market has demonstrated confident growth dynamics. But, according to Jeff Kendrick, global head of digital research, this is far from the limit. The specialist noted that with a high degree of probability, Bitcoin will reach the $200 thousand mark next year. Moreover, this will happen regardless of the results of the US presidential elections in November of this year.
The expert cited several factors as an argument. First of all, it is worth noting that the United States is considering the possibility of canceling the regulation of the Accounting Bulletin for Personnel-121. This provision prohibits credit institutions from storing clients’ digital assets. Also, the main digital coin will be supported by a decrease in inflation in the country and a potential increase in the inflow of investment funds into spot ETFs.
As for Staff Accounting Bulletin 121, Kendrick is confident that these provisions will be eliminated by both Kamala Harris and Donald Trump. The expert also noted that there will likely be major personnel changes at the US Securities and Exchange Commission.
The SEC and its management are often criticized by the cryptocurrency community for their approach to regulating the digital asset segment. Many well-known personalities in this industry have repeatedly noted that the regulator uses irrational enforcement measures. And this primarily harms the development of financial innovations and the fintech direction.
It should also be noted that according to Polymarket, Kamala Harris has taken the lead. 51% of users have bet on her victory in the election race. At the same time, 48% of service participants believe that Donald Trump will become the new US president.
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