The U.S. presidential election has emerged as the next key catalyst for the price of bitcoin, and could push it to $150,000 by the end of the year, according to Standard Chartered.
"As we approach the U.S. election I expect $100,000 to be reached and then $150,000 by year-end in the case of a Trump victory," Geoff Kendrick, head of digital assets research at Standard Chartered, wrote of bitcoin.
"The Biden administration recently showed pragmatism in approving the ETH ETFs, but subsequently Biden vetoed efforts to repeal SAB 121 .
Bitcoin could reach a new record over the weekend if Friday's nonfarm payrolls report is friendly, Kendrick said.
The cryptocurrency's current record, reached on March 14, is $73,797.68.
Persons:
Geoff Kendrick, bitcoin, Biden, Trump, Friday's, Kendrick, Dado Ruvic
Organizations:
U.S, Chartered, Trump, Standard Chartered, BTC, ETH, SAB, Securities and Exchange Commission
Locations:
Washington, The U.S