Standard Chartered Bank: Bitcoin may experience a pullback and volatility as the US election approaches
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Odaily Planet Daily reported that Geoff Kendrick, the global head of digital asset research at Standard Chartered Bank, said that the possibility of Bitcoin breaking its historical high in the near future has decreased due to investors taking profits before the US presidential election, and there may be price corrections and increased volatility before November 5. Although Bitcoin's price reached $73,563 this week, it has not yet surpassed the historical high of $73,700 set in March. Kendrick pointed out that Bitcoin market volatility will increase during the election period, especially if the election results are delayed. Furthermore, he believes that if the Republican Party wins the election comprehensively, Bitcoin could rise to $125,000 by the end of the year, triggering a new round of fever, with likely to benefit significantly. (TheBlock)
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