The British bank Standrard Chartered predicts the end of 2024 with all-time highs for bitcoin, regardless of the result of the November presidential elections in the United States.

According to the bank’s head of research, bitcoin has the potential for an increase in its price to reach historical highs at the end of this year, since the factors that support its value are above the US electoral process.

At the end of the year, according to Standard Chartered estimates, if Donald Trump is re-elected, bitcoin could reach $125,000; In the event that Kamala Harris wins, the price of the cryptocurrency could be $75,000.

Among the factors that may influence an increase in the price of BTC are positive changes, there is a recent relaxation in regulations, such as the repeal of SAB 121, which imposes strict accounting standards on digital asset holdings by 2025.

Another factor that the bank considers driving the price of bitcoin is the rise of the US Treasury markets.

M.Pino

Source: cripto247

(Reference image source: Erling Løken Andersen in Unsplash)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada Bitcoin price could reach all-time highs by the end of the year apareció primero en Bitfinance.

In the first nine months of 2023, central banks around the world have intensified their interest in acquiring reserves of this coveted metal, with China and Russia leading the bullish trend. According to the World Gold Council, purchases of gold by central banks reached 800 tonnes net, an increase of 14% compared to the same period last year.

For 2024, projections indicate that central banks’ gold rush will persist for at least the first half of this year, according to data from Schiffgold.

This phenomenon is explained by two main factors. First, de-dollarization is expected to accelerate in 2024, with powers like China and Russia strategically moving away from the hegemony of the dollar. In Russia, the actions of the Biden administration to isolate Moscow with sanctions, stemming from the conflict in Ukraine, further push Russia’s disinvestment in the US dollar. It is therefore logical that Russia’s gold reserves will continue to grow in 2024.

Second, the Fed’s proclamation of a victory against inflation could further fuel interest in buying gold. The possibility that the Fed will be forced to cut interest rates in 2024, according to Schiffgold, leads central banks to seek easier protection against monetary policies.

In short, lower rates in 2024 reinforce the prospect of rising inflation, leading to a depreciation of the dollar and higher prices for gold and other commodities. Central banks, anticipating downward pressures on the dollar, are gearing up to strengthen their gold reserves, even as the Fed proclaims victory in the battle against inflation.

The question remains: A dollar crisis or a sovereign debt collapse? Central banks are not willing to wait to find out.

Finally, the year 2024 presents more uncertainty, with ongoing conflicts between the powers of the United States and presidential elections that amplify global political instability. Candidates like RFK Jr. and Vivek Ramaswamy advocate anti-system messages about central bank control, adding an element of intrigue to this complex picture.

K. Tovar

Source: Bancaynegocios

(Reference image source: Unsplash+)

Visit our news channel on Google News and follow us to get accurate, interesting information and stay up to date with everything. You can also see our daily content on Twitter and Instagram

La entrada China and Russia lead the “global gold rush” in 2024 apareció primero en Bitfinance.