Standard Chartered forecasts bitcoin could hit all-time high in August

Bitcoin's price could hit a new all-time high in August, followed by an increase to $100,000 by the time of the U.S. presidential election in November, according to Standard Chartered.

Kendrick's prediction hinges on Joe Biden remaining in the U.S. presidential election race—a scenario the market perceives as favoring a Donald Trump victory. He expanded on this possibility, adding that if Biden's Democratic candidate replacement is very credible, such as Michelle Obama, "bitcoin prices will stay soft." However, he concluded that if Biden stays in the race, "bitcoin is a fantastic buying opportunity."

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