Standard Chartered Bank predicts: If Trump is elected, "SOL will rise 5 times" and Bitcoin will reach $200,000 by the end of 2025

The U.S. presidential election will be held on November 5, and the crypto market is closely watching the positions of Trump and Harris on cryptocurrencies to predict the market trend. Recently, Geoff Kendrick, Head of Foreign Exchange and Digital Assets Research at Standard Chartered, believes that regardless of the outcome of the November election, it will not hinder Bitcoin from reaching a new all-time high by the end of the year. At the time, he stated: "If Trump wins, the price of Bitcoin will reach $125,000; if Harris wins, the price of Bitcoin will be $75,000." Trump's Election, SOL Surges 5-Fold In his report yesterday, Kendrick made further market predictions for 2025 based on the two candidates' election scenarios. He pointed out that if Trump wins, by the end of 2025, Solana could surge five-fold, Ethereum four-fold, and Bitcoin three-fold. On the other hand, if Harris is elected, Kendrick predicts that Bitcoin's performance will be better than Ethereum, and Ethereum will outperform Solana. He further predicted the price trend: "If Harris is elected, we expect Ethereum to reach $7,000 by the end of 2025. However, regardless of the election outcome, we expect Bitcoin to rise to $200,000 by the end of 2025." The vastly different predictions are due to the two candidates' different attitudes towards cryptocurrencies. Trump has publicly supported cryptocurrencies multiple times this year, leading the market to expect him to create a more crypto-friendly regulatory environment, while Harris' attitude is ambiguous, and she may continue the Biden administration's approach. Two Reasons for Bullish Solana Under a Trump presidency, Kendrick believes the development of the Solana ecosystem will be more favorable, with factors including: 1) Solana Spot ETF Approval When the 19b-4 filing for the Ethereum spot ETF was approved, Kendrick believed that ETF products for other cryptocurrencies such as SOL may appear by 2025, stating that the SEC's approval of the Ethereum spot ETF indicates that it did not classify ETH as a security, implying that cryptocurrencies like XRP and SOL may also not be considered securities. In some cases, cryptocurrencies like SOL have a very similar technical core to ETH, and given the SEC's recognition of ETH, they are also unlikely to be considered securities. The market will also look forward to their eventual ETF products, although this is likely a 2025 story. 2) Firedancer Upgrade Another factor is Solana's planned Firedancer upgrade. Firedancer is a Solana validator node client developed by Jump Crypto, aiming to increase TPS to 1 million. Kendrick expects that after the implementation of Firedancer, Solana's throughput will increase 100 to 400 times, which will help Solana establish a dominant position in multiple areas, including finance, consumer services, and DePIN, thereby increasing Solana's valuation. However, Standard Chartered has always been optimistic about the crypto market outlook. At the end of May, the bank had predicted that with the approval of the Ethereum spot ETF, Bitcoin was expected to reach a new all-time high by the weekend, but the result did not materialize. At the same time, its prediction that Bitcoin will reach $125,000 by the end of the year means that Bitcoin needs to double in the next three months, and it still has a long way to go to reach the target.