Standard Chartered has released an analysis highlighting expectations regarding the impact of Donald Trump's policy on the cryptocurrency market, especially in relation to Bitcoin.
The financial institution anticipates a significant increase in the price of Bitcoin, potentially projecting it towards $80.000 per BTC in the next two weeks, driven by Donald Trump's electoral victory.
Currently, the price of Bitcoin has reached new all-time highs of $76.460 following Trump's re-election as US President. However, according to analysts at Standard Chartered, this is just the beginning of an upward trend that could take the cryptocurrency to new market prices.
Standard Chartered believes that Trump's policies will be very favorable for the Bitcoin and cryptocurrency market, taking into account what the president-elect has promised during his campaign, such as create a national strategic Bitcoin reserve y Turning the United States into a cryptocurrency superpowerThe bank noted that these policies could lead to greater institutional adoption of Bitcoin, favoring its price growth in the future.
Standard Chartered's perspective on Trump's crypto policy
Standard Chartered's projection is based on the belief that a Republican administration under Trump's leadership will facilitate a more friendly environment for cryptocurrenciesThis includes the possibility of implementing policies that reduce regulatory barriers and encourage the adoption of digital assets.
According to analysts at the bank, a Republican-controlled Congress will allow Trump to move forward with his proposals without facing significant opposition, which will be crucial as more favorable regulatory policies toward cryptocurrencies could attract more investments and increase market confidence.
Geoff Kendrick, global head of digital asset research at Standard Chartered, recently said that one of the most anticipated aspects of the Trump administration is the possible repeal of the Securities and Exchange Commission (SEC) regulation SAB 121, which has been seen as an obstacle to the growth of the crypto sector in the country. As this media has explained, this regulations requires banks and financial institutions to hold reserves to back up their digital assets in custody, which has been perceived as an additional burden affecting cryptocurrency adoption. Therefore, the removal or modification of this regulation could open the doors to further innovation and development within the crypto space.
Standard Chartered has also noted that Trump could push for clearer, more favorable regulations for stablecoinsThese cryptocurrencies are designed to keep their value tied to stable assets like the US dollar and have gained popularity among investors due to their lower volatility compared to other cryptocurrencies, such as Bitcoin and Ethereum.
Kendrick stressed that, to date, regulation for stablecoins has been left in regulatory limbo in the United States. However, this could change under the new administration, which could encourage proper regulation of these stablecoins, in order to facilitate their use in daily transactions and increase their adoption among consumers and institutions.
Bitcoin price at $125.000 this 2024
According to DLNews, Standard Chartered analysts also they pointed out that investors are betting on further growth of Bitcoin. This prediction on the future price of the cryptocurrency is based on the Bitcoin options market, where Investors are showing great interest around $80.000According to the bank's analyst, this suggests that the leading cryptocurrency could reach this level in price within one to two weeks.
Similarly, the bank suggests that if Trump succeeds in implementing his pro-cryptocurrency policies, the price of Bitcoin could experience a considerable increase in the market. The expectation is that, with Trump in power, tax incentives for companies in the crypto sector can be created and the creation of a strategic Bitcoin reserve by the government can be facilitated, which will not only would increase the widespread use of Bitcoin as a legitimate form of financial asset, but you could also set it as a key component within the American financial system.
On the other hand, Standard Chartered also expects Bitcoin spot ETFs listed on US exchanges to boost the price of the cryptocurrency. These investment funds have seen net inflows of nearly $24.000 billion since their launch in January this year, and this figure is expected to increase significantly over the next year.
Based on all of the above, Standard Chartered has projected that beyond a price of $80.000 in the coming weeks, Bitcoin could reach up to $125.000 before the end of 2024, driven by a more favorable regulatory environment and greater institutional acceptance.
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