Bitcoins value could reach 125K if Republicans win US Congress predicts Standard Chartered

Bitcoin’s value could potentially surge to $125,000 by the end of this year if the United States Congress is dominated by the Republican Party following the November 5 elections, according to Geoff Kendrick, an analyst at Standard Chartered Bank. With speculation surrounding both the US elections and Bitcoin prices reaching a fever pitch, Kendrick has expressed optimism towards the Republicans. He has predicted that BTC will reach approximately $73,000 on the day of the elections. If former President Donald Trump secures a second term, Kendrick anticipates a 4% increase in BTC when the result is announced, based on options information, followed by an additional 10% surge within a few days. In the event that Vice President Kamala Harris is elected president, Kendrick suggests that BTC will experience a temporary decrease, but ultimately end the year at around $75,000. He points out that RealClearPolitics currently gives Trump a 59% chance of winning, while Polymarket puts his odds of victory at 75%. It is worth noting that Polymarket’s odds were influenced by an unidentified whale who placed a bet of over $20 million on a Trump win. The crypto community generally perceives Trump to be more supportive of cryptocurrencies than Harris, although Ripple co-founder Chris Larsen has notably donated XRP worth $11 million to the Harris campaign. Kendrick is not the only commentator expressing confidence in Trump’s potential impact on Bitcoin. An executive at crypto asset manager Bitwise has predicted that BTC could reach $92,000 in the event of a Trump victory, while crypto exchange Deribit forecasts a BTC value of $80,000 by the end of November if Trump is re-elected. However, more reserved observers, such as BlackRock CEO Larry Fink, believe that BTC will experience a rise regardless of the election results.