Geoffrey Kendrick from Standard Chartered remains optimistic about Bitcoin, predicting a rise to $500,000 during Trump’s presidency despite a recent decline. He highlights the importance of institutional support and regulatory clarity for Bitcoin’s stability, as the cryptocurrency currently experiences market fluctuations due to geopolitical tensions.

A leading analyst at Standard Chartered remains bullish about Bitcoin’s future, predicting its value could soar to $500,000 during Donald Trump’s presidency, despite a recent decline that has seen the cryptocurrency plummet to a three-month low. According to Geoffrey Kendrick, head of digital assets research at Standard Chartered, he maintains a positive outlook for Bitcoin, expecting it to reach $200,000 by the end of this year.

Kendrick attributes the potential for Bitcoin’s growth to increased participation from traditional financial players, emphasizing that institutional engagement and regulatory clarity are essential for reducing the cryptocurrency’s volatility. This perspective comes at a time when Bitcoin has dipped below $90,000, aligning with a broader trend of declining digital currencies influenced by geopolitical uncertainties, including tariffs and ongoing conflicts in regions such as Ukraine and Gaza.

Moreover, Trump’s past endorsement of digital currencies has fostered a favorable sentiment among cryptocurrency enthusiasts. In January, he enacted an executive order aimed at promoting the growth of cryptocurrencies in the United States, which included the proposal to establish a national digital asset reserve.

In summary, despite Bitcoin’s recent price downturn, Geoffrey Kendrick of Standard Chartered holds an optimistic viewpoint about the cryptocurrency’s growth potential, forecasting a significant price increase driven by institutional support and regulatory advancements. Furthermore, historical support from Donald Trump may also play a pivotal role in influencing market sentiment positively.

Original Source: www.kaohooninternational.com

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