The upcoming U.S. presidential election in November has attracted much attention from the crypto. Since former U.S. President Trump has publicly supported cryptocurrencies many times this year, the market believes that Trump will bring a friendlier regulatory environment to the crypto market; However, her rival and Democratic candidate Kamala Harris has a vague attitude and may continue to follow the Biden administration's line.
Standard Chartered Bank: US election results will not hinder Bitcoin’s rise
Yesterday (12th), Geoff Kendrick, head of foreign exchange and digital asset research at Standard Chartered, analyzed that regardless of the final outcome of the November election, Bitcoin will hit a record high again by the end of the year:
I believe that no matter who wins the US election, the positive drivers will dominate and Bitcoin will end the year higher and even hit new all-time highs again.
However, given the current encryption attitudes of Trump and Harris, Kendrick said that the outcome of the competition between the two will still affect the upper limit of Bitcoin:
If Trump wins the election, the price of Bitcoin will reach $125,000; if Harris wins, the price of Bitcoin will reach $75,000.
The U.S. Will Ease Crypto Regulation in the Future
In response to his own point of view, Kendrick added that after Trump and Harris take office, they will also relax encryption regulatory policies to a certain extent:
We believe that no matter who is in the White House, we will usher in a more relaxed regulatory environment in 2025 than now, especially the repeal of the US SAB 121 bill, which imposes strict regulations on banks holding digital assets.
On the other hand, Kendrick said that the development of the U.S. Treasury market and the Bitcoin spot ETF also provide impetus for Bitcoin’s long-term rise:
We believe current developments in the U.S. Treasury market — with the yield curve re-steepening, breakeven inflation falling less than real yields, while risk-neutral yields are falling and term premiums remain stable — are positive for Bitcoin the driving force.
Bitcoin spot ETF trading volume will also see a seasonal rebound in October.
Deutsche Bank: U.S. consumers are increasingly interested in Bitcoin
On the other hand, Deutsche Bank said in a report on Wednesday (11) that current U.S. consumers’ recognition of Bitcoin is increasing, and less than 1% of people still inherently believe that Bitcoin is a currency. "The hot spot" in the market.
In addition, more than half of the respondents also said that cryptocurrencies are an important asset class as a payment method, and even 65% said they could see the day when cryptocurrencies replace cash.
Finally, the bank's analysts Marion Laboure and Sai Ravindran predict:
Driven by exchange-traded funds (ETFs), Federal Reserve policy, and regulation, cryptocurrency democratization will further advance over the next 2-3 years.
