Standard Chartered Bank: Bitcoin will reach $125,000 by the end of this year after Trump wins the election

Odaily News Geoff Kendrick, global head of digital asset research at Standard Chartered, said at a briefing on Wednesday that the price of Bitcoin will reach $125,000 by the end of this year and $200,000 by the end of 2025 after Trump's victory. The forecast echoes estimates made earlier this month by analysts at research and brokerage firm Bernstein. Standard Chartered made a similar forecast in October. Kendrick believes that many of Trump's pro-cryptocurrency promises, such as firing SEC Chairman Gary Gensler, establishing a national strategic Bitcoin reserve, and reshaping the United States into a "bitcoin superpower," will drive Bitcoin higher. Kendrick said that judging from Bitcoin options trading, Standard Chartered has found a lot of investor interest in prices around $80,000, suggesting that the cryptocurrency will reach that level "in the next week or two."