In a daring forecast, Commonplace Chartered’s head of digital belongings analysis, Geoff Kendrick, has predicted that Bitcoin may surge to $150,000 if Donald Trump wins the upcoming U.S. presidential election. “As we method the U.S. election, I count on $100,000 to be reached after which $150,000 by year-end within the case of a Trump victory,” Kendrick acknowledged.
JUST IN: #Bitcoin to succeed in $150,000 if Donald Trump wins presidency, says Commonplace Chartered. pic.twitter.com/4Kaq4P0BRf
— Bitcoin Journal (@BitcoinMagazine) June 6, 2024
The prediction comes amidst a backdrop of financial indicators and political developments influencing the Bitcoin market. Kendrick highlighted that the following vital driver for Bitcoin’s worth could be the U.S. election.
Kendrick additionally famous that Bitcoin may attain a brand new file over the weekend if the nonfarm payrolls report, to be launched on Friday, is favorable. Bitcoin’s present all time excessive, set on March 14, stands at $73,770. A optimistic jobs report may pave the way in which for Bitcoin to succeed in $80,000 later this month, he famous.
The forecast underscores the numerous impression political developments can have on the Bitcoin market. With over 50 million Bitcoin and crypto holders in the US, the end result of the presidential election is poised to play a vital function in shaping the way forward for Bitcoin.