Standard Chartered analyst: Trump victory will help bitcoin reach $125,000 by the end of the year

Geoff Kendrick, global head of digital asset research at Standard Chartered, said bitcoin prices could see a correction ahead of the US Presidential Election on November 5, with volatility expected to intensify in the coming days. The chances of bitcoin breaking all-time highs above $73,700 before the US election are decreasing as traders choose to position squaring profits ahead of the election.
Geoff Kendrick added that if the Republican Party (Trump) wins the US Congress, there will be more volatility in the price of bitcoin, which could take bitcoin to $125,000 by the end of the year and trigger a new wave of counterfeit products.