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[Standard Chartered Bank: Bitcoin Will Reach $125,000 By The End Of This Year After Trump Wins The Election] Geoff Kendrick, Global Head Of Digital Asset Research At Standard Chartered Bank, Said At A Briefing On Wednesday That After Trump Wins The Election, The Price Of Bitcoin Will Reach $125,000 By The End Of This Year And $200,000 By The End Of 2025. This Forecast Echoes Estimates Made Earlier This Month By Analysts At Research And Brokerage Firm Bernstein. Standard Chartered Bank Made A Similar Forecast In October. Kendrick Believes That Many Of Trump's Promises In Support Of Cryptocurrencies, Such As Firing U.S. Securities And Exchange Commission Chairman Gary Gensler, Establishing A National Strategic Bitcoin Reserve, And Reshaping The United States Into A "bitcoin Superpower," Will Drive Bitcoin Up. Kendrick Said That Judging From Bitcoin Options Trading, Standard Chartered Bank Found That Many Investors Were Interested In Prices Around $80,000, Suggesting That The Cryptocurrency Will Reach This Level "in The Next Week Or Two." On The Regulatory Front, Kendrick Said He Expects Trump To Overturn Biden's Veto Of SAB 121, A Controversial SEC Accounting Guideline That Critics Say Prevents Investment Banks From Offering Cryptocurrency Custody Services On A Large Scale. Kendrick Believes Trump Will Achieve This Goal Soon After He Takes Office On January 20 Next Year, And Believes The Move Will Drive More Institutional Adoption Of Cryptocurrencies
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