CandleFocus Bitcoin Boom Under Trump Could Push Crypto to $10 Trillion Market Cap: Standard Chartered
2024-11-09
Author: Content Editor
Standard Chartered, a British bank, predicts that the next two years will see similar percentage gains for digital assets as seen in 2021. The bank expects existing digital assets to increase in price and new subsectors to emerge, with real-world use cases finally going mainstream. They also double down on their previous estimates that Bitcoin will reach $200,000 and Ethereum will surpass $10,000 by the end of next year. Standard Chartered believes that Donald Trump's victory in the US presidential election will lead to positive price action for cryptocurrencies, as his administration is expected to implement measures that benefit the crypto industry. The bank also expects Bitcoin's dominance to decrease to 40% by the end of 2026, with altcoins, particularly Solana, outperforming BTC and ETH. Standard Chartered believes that altcoin growth will be driven by real-world applications in areas such as gaming, decentralized physical infrastructure, and on-chain consumer social products.
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