**Standard Chartered: Bitcoin to Hit New All-Time High in 2024 Regardless of US Election Results**
In a bold prediction, Jeff Kendrick, an analyst from Standard Chartered, has forecasted that Bitcoin will reach a new all-time high by the end of 2024, irrespective of the results of the US presidential elections. This insight was reported by [The Block](https://www.theblock.co/post/316075/bitcoin-price-record-high-us-election), highlighting the resilience and potential growth of the leading cryptocurrency.

Market Dynamics and Predictions

Kendrick believes that Bitcoin will close the year on a historic high note, driven by a range of positive factors that overshadow the election results. According to him, if Donald Trump wins the presidency, Bitcoin could surge to $125,000. Conversely, if Kamala Harris takes office, the cryptocurrency might still reach an impressive $75,000.
**”I think Bitcoin will end the year at a new all-time high, no matter who wins the US elections. In the event of a Trump victory, the asset will hit $125,000. If Harris leads the country, it will reach $75,000,”** Kendrick stated.

Influence of Regulatory Changes

A significant driver behind this optimistic outlook is the anticipated progress in regulatory frameworks. Kendrick points out that regulatory changes, such as the easing of SAB 121, are expected to continue into 2025, regardless of the election outcome. These changes are seen as a substantial positive factor for Bitcoin’s price growth.
The expert also noted that the impact of the US presidential elections on Bitcoin is less significant now compared to the Biden era. This suggests a maturing market that is becoming less dependent on political changes and more influenced by structural and regulatory developments.

Investment in Bitcoin ETFs

Another crucial factor contributing to Bitcoin’s anticipated rise is the expected increase in funds flowing into spot Bitcoin ETFs by October. This influx is likely to boost demand and, consequently, the price of Bitcoin, further solidifying its position in the market.

Industry Insights and Expectations

The outlook shared by Kendrick aligns with earlier statements from Matrixport, an analytical company that also emphasized Bitcoin’s potential to thrive regardless of the US election results in November 2024. However, the Jefferies Group offers a contrasting view, suggesting that in the short term, Bitcoin’s price is directly correlated with the election outcome.
This divergence in opinions underscores the complexity and multifaceted nature of the cryptocurrency market, where various factors interplay to shape price movements.
As we look towards the future, the combination of regulatory advancements, increased institutional investment, and a resilient market structure positions Bitcoin for potential significant growth. Whether you’re a seasoned investor or a newcomer to the crypto space, staying informed about these developments is crucial for making well-informed decisions.