Bullish Bitcoin Predictions for 2024 US Election

Geoff Kendrick, the Head of Crypto Research at Standard Chartered Bank, has recently made headlines with his bullish predictions regarding the Bitcoin price trajectory in relation to the 2024 US presidential election. His analysis suggests that depending on the election outcome, Bitcoin could reach unprecedented heights by the end of 2024. 
 
Kendrick's forecast indicates that if Donald Trump were to secure a second term as president, Bitcoin could potentially soar to an impressive $125,000. On the other hand, if Vice President Kamala Harris were to win the presidency, Kendrick anticipates that Bitcoin could still achieve remarkable growth and reach around $75,000. 
 
The implications of the election on the cryptocurrency market are significant, according to Kendrick. While political events undoubtedly influence market sentiment and behavior, Kendrick believes that potential risks associated with a Harris presidency may be overstated. He asserts that regardless of who wins in 2024, Bitcoin is poised for new all-time highs. 
 
In terms of how market participants may react to different election outcomes, Kendrick suggests that even in the case of a Harris victory leading to an initial price dip for Bitcoin, investors are likely to view such declines as buying opportunities. This confidence stems from expectations of continued regulatory advancements in favor of digital assets under various administrations. 
 
Contrary to concerns within the industry about a hypothetical strict stance towards cryptocurrencies under a Harris administration, Kendrick argues that her government might actually adopt a more favorable outlook towards digital assets compared to another term under President Biden. 
 
Standard Chartered Bank remains upbeat about Bitcoin's future performance despite uncertainties surrounding elections and regulations. The bank maintains its bullish stance by predicting a surge in BTC value up to $200,000 by late 2025, regardless of who occupies the White House next year. 
 
Adding further perspective on current trends in crypto markets is analyst Daan Crypto Trades, who sheds light on historical patterns observed with Bitcoin during September. Despite traditionally challenging conditions faced by BTC during this month historically—whether at early stages or later cycles—September typically serves as a local bottom followed by upward movements into Q4. 
 
Recent notable downturns experienced by Bitcoin include significant drops on August 5th (nearly 25%) and September 6th, which pushed prices down temporarily before recovering back up above $58k levels, indicating strong macro-uptrend support lines holding firm amidst volatility spikes seen over the past weeks. 
 
Daan emphasizes remaining liquidity levels standing higher than recent months, suggesting clearing out historical resistance zones during sharp pullbacks witnessed earlier this year aligning well with current consolidation phases underway now post-retracement events, highlighting key hurdle points like surpassing the $65k range being crucial for forming local highs targeting upcoming liquidity thresholds near $70k marks ahead. 
 
Overall, Geoff Kendricks' optimistic projections, coupled with Daan's technical insights, paint an intriguing picture for potential future scenarios shaping up within the crypto landscape going forward into next year amid ongoing global economic uncertainties influencing investor sentiments across traditional financial markets worldwide alongside evolving regulatory frameworks affecting digital asset spaces alike.