According to Geoff Kendrick, an analyst at Standard Chartered Bank, there is a possibility that Bitcoin could reach a value of $125,000 by the end of the year if members of the Republican Party win a majority in the US Congress after the Nov. 5 election. With speculation surrounding the US election and Bitcoin prices reaching a frenzy, Kendrick has shown optimism toward the Republicans. He predicts that BTC will reach approximately $73,000 on November 5, election day. In the event that former Republican President Donald Trump wins a second term, Kendrick believes BTC will experience a 4% increase based on options information and rise another 10% in a few days. However, if current Vice President Kamala Harris is elected president, Kendrick says Bitcoin may trade lower for a period of time, but will ultimately end the year around $75,000.
