Bitcoin can reach 500 thousand dollars before Trump leaves the office – Standard Chartered

The first month of US President Donald Trump was very volatile for risk assets, but his administration is likely to be positive for bitcoin in the long run, according to Standard Chartered.

In an interview on February 27 with CNBCJeffrey Kendrick, head of Standard Charterd Research, said he expects Bitcoin (BTC) The price is to reach $ 200,000 this year before it rose to $ 500,000 before President Trump concluded his second term. He pointed to the increase in institutional adoption and The possibility of clearer regulations As positive stimuli.

Despite the recent fluctuations, encryption markets must become less rock over time as more asset institutions adopt, Kindrik said. These players will also reduce the security risks that appear to be inherent in the encryption protocols, as shown by the latter Hacking $ 1.4 billion from Crypto Exchange bybit.

“What we need is traditional financial players, such as Standard Chartered, such as Blackrock and others who have the investment funds now circulated to intervene really,” Kendrick said. “They are institutions like our levels that now offer safer custody companies than breakthroughs.”

“When the industry becomes more institutional, it must be safer,” he said.

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Bitcoin fluctuations from bitcoin

Since reaching the highest level ever exceeding $ 109,000 in January, the Bitcoin price has been drowned to the lowest level in more than three months of about $ 80,000 this week President Trump reaffirmed his identification threats On China, Mexico and Canada.

Trump said of the social truth, that the definitions related to Canadian and Mexican goods scheduled to enter into force on March 4 “will come into effect, as decided.”

Bitcoin’s reaction sharply with the threats of customs tariffs indicates that digital assets have become closely related to stocks and liquidity conditions, according to the market commentator. Copsy message.

Global macro investor Julian Beetle He said The recent decline of Bitcoin is “natural in the bull market”, especially after the massive price update after the US presidential election.

Meanwhile, Jimmy Cots, chief analytical analyst at Real in the vision, said that two of three “basic liquidity measures” as part of his work turned into a rise in the aftermath of the last sale. Expanding the scope of the central bank budgets and the high global cash width is usually preached to bitcoin. The only remaining domino is the US dollar.