Standard Chartered has predicted that Bitcoin (CRYPTO: BTC) will hit $73,000 by the time of the U.S. presidential election on Nov. 5, with the cryptocurrency expected to surge beyond $80,000 shortly after if former President Donald Trump wins.
What Happened: The bank’s analysis, based on current options data and betting odds, suggests that Trump’s growing lead in key polls is boosting investor confidence in the cryptocurrency market.
“The odds of a Trump victory, now at 59%, indicate Bitcoin will trade higher into the election,” Standard Chartered’s Geoffrey Kendrick said in a note sent to Benzinga.
The bank’s analysts believe that if Trump secures the presidency, a quick 4% rise in BTC could follow, taking the price to around $76,000.
Post-Election Surge Based On Options Data
Standard Chartered’s forecast hinges on Bitcoin options break-even …
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