Standard Chartered Bank: Bitcoin will reach $125000 by the end of this year after Trump's victory

According to DL News, Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated at a briefing on Wednesday that after Trump's victory, the price of Bitcoin will reach $125000 by the end of this year and $200000 by the end of 2025. This prediction is consistent with the estimates made earlier this month by analysts at research and brokerage firm Bernstein. Standard Chartered Bank also made a similar prediction in October. Kendrick believes that many of Trump's promises in support of cryptocurrency, such as dismissing U.S. Securities and Exchange Commission Chairman Gary Gensler, establishing a national strategic Bitcoin reserve, and reshaping the United States as a "Bitcoin superpower," will drive the rise of Bitcoin. Kendrick stated that from the perspective of Bitcoin options trading, Standard Chartered Bank has found that many investors are interested in a price around $80000, indicating that this cryptocurrency will reach this level in the "next one or two weeks". In terms of regulation, Kendrick stated that he expects Trump to overturn Biden's veto of SAB 121, a controversial SEC accounting guideline that critics say prevents investment banks from providing large-scale cryptocurrency custody services. Kendrick believes that Trump will soon achieve this goal after taking office on January 20th next year, and believes that this move will drive more institutions to adopt cryptocurrency.