Geoff Kendrick’s Bitcoin price prediction
Geoff Kendrick, head of digital asset research at Standard Chartered, predicts that the price of Bitcoin could rise to $150,000 if Donald Trump is re-elected as US president. Kendrick sees the US presidential election as a deciding factor for the future value of Bitcoin. He expects the cryptocurrency to hit the $100,000 mark around the time of the election and possibly $150,000 by the end of the year if Trump wins.
Outlook on the Nonfarm Payrolls Report
In addition, Kendrick points to the upcoming Nonfarm Payrolls Report, a report on the employment situation in the United States, as another potential short-term driver for Bitcoin's price. He suggests that a positive report could boost Bitcoin's price to $80,000 in the short term. These sentiments follow Bitcoin's recent peak of $73,770 on March 14. Kendrick's comments highlight the significant role that political events, particularly in the United States, play in the Bitcoin market. He highlights that the large number of Bitcoin and cryptocurrency owners in the country, which is more than 50 million, amplifies this influence.
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