Announcements from the U.S. Securities and Exchange Commission (SEC)

Standard Chartered Predicts Bitcoin Could Reach $73,800 Before U.S. Presidential Election, Valued at $800 Billion

Oct 15, 2024, 01:07 PM

Standard Chartered has forecasted that Bitcoin could potentially reach a new all-time high of $73,800 before the upcoming U.S. presidential election. The bank attributes this potential surge to several factors, including a steepening U.S. Treasury yield curve and increased interest in spot Bitcoin exchange-traded funds (ETFs). The prediction reflects a broader optimism in the cryptocurrency market, driven by macroeconomic trends and changing market dynamics as the election approaches. Standard Chartered, valued at approximately $800 billion, is closely monitoring these developments as they could significantly influence Bitcoin's price trajectory.