Standard Chartered analyst: Trump win will help push bitcoin to $125,000 by year-end

Geoff Kendrick, Head of Global Digital Asset Research at Standard Chartered, said that the bitcoin price is likely to see a pullback ahead of the US presidential election on 5 November, with volatility expected to increase over the next few days. The likelihood of Bitcoin breaking above its all-time high of over $73,700 before the US election is diminishing as traders choose to close out their positions and take profits before the election hits the ground. Geoff Kendrick added that if the Republicans (Trump) win big in the U.S. Congress, the Bitcoin price will see even greater volatility, which could push Bitcoin to $125,000 by the end of the year and spark a new wave of cottage-coin craze.