Head of FX and Digital Asset Research at Standard Chartered Bank: Bitcoin may hit a record high in August and exceed $100,000 during the US election

Odaily News Jeffrey Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, said that "Bitcoin prices are likely to hit new highs in August and will exceed $100,000 by the US election day." Kendrick's prediction depends on whether Joe Biden continues to participate in the US presidential election - a situation that the market believes favors Trump's victory. Standard Chartered analysts believe that Trump is "positive for Bitcoin" and pointed out that the former president's chances of being elected are positively correlated with Bitcoin prices. "The logic here is that under Trump's leadership, both regulation and mining will be treated more favorably," Kendrick added. (TheBlock)