Standard Chartered Bank: BTC is expected to return to its historical high before the US election

Bitget2024/10/15 12:36

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ChainCatcher news, according to The Block, Geoff Kendrick, the head of global digital asset research at Standard Chartered Bank, reported that Bitcoin is showing an upward trend and may approach its historical high of $73,800 before the U.S. presidential election.

Kendrick pointed out that multiple factors have driven this potential price increase, including a steepening yield curve for U.S. Treasury bonds, a resurgence of interest in spot Bitcoin ETF markets, and an increased probability of Donald Trump winning the upcoming U.S. presidential election.

According to predictions from Polymarket platform, Trump's odds of winning have risen to 56.3%. If Trump wins and Republicans control both Senate and House simultaneously with a probability of 70%, it could create favorable conditions for risk assets including Bitcoin.

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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