Standard Chartered executive: Bitcoin may hit an all-time high in August and surpass $100,000 during the U.S. elections

ChainCatcher news, according to The Block, Standard Chartered's head of foreign exchange and digital asset research, Jeffrey Kendrick, stated, "Bitcoin prices are likely to hit a new high in August and will exceed $100,000 by the day of the U.S. election."

Kendrick's prediction depends on whether Joe Biden continues to run for the U.S. presidency—markets believe this scenario favors Trump's victory. Standard Chartered analysts believe Trump "has a positive attitude towards Bitcoin" and point out that the former president's chances of being elected are positively correlated with Bitcoin prices. "The logic here is that under Trump's leadership, regulation and mining will be treated more favorably," Kendrick added.