Standard Chartered: Bitcoin May Hit Record Highs in August

Jeffrey Kendrick, Head of FX and Digital Asset Research at Standard Chartered, said, "Bitcoin prices are likely to hit new highs in August, topping $100,000 by U.S. election day." Kendrick's prediction hinges on Joe Biden staying in the U.S. presidential race - a scenario the market sees as favoring a Trump victory. Standard Chartered analysts believe Trump is "positive on Bitcoin," noting that the former president's chances of being elected are positively correlated with the price of Bitcoin. "The logic here is that both regulation and mining will be treated more favorably under Trump."