Standard Chartered, one of the world’s major global investment banks, has published a new cryptocurrency analysis. According to the report written by analysts led by Geoffrey Kendrick, the bank’s head of foreign exchange and digital assets, Bitcoin could set a new record in August.

” $100,000 in November with the US elections…”

After the record high in August, bank analysts expect the largest cryptocurrency to reach $100,000 by the time the US elections in November approach. However, it should be noted that this scenario of analysts is more based on Joe Biden staying in the race.

“If Biden drops out, Bitcoin could go to $50,000”

Analysts stated that if Biden withdraws from the presidential elections and a Michelle Obama-style person supported by the public becomes a candidate, Bitcoin may even drop to $50,000 in the short term. In the bank’s report, it was stated that Joe Biden’s withdrawal from the race was “unlikely”.

As it is known, there is currently an impression of “Bitcoin-friendly presidential candidate” for Donald Trump in the US… However, the same situation does not exist for Biden. The Biden government’s negative attitude towards cryptocurrencies through government agencies, especially the SEC, was heavily criticized.

Why can Biden withdraw?

It is stated that Joe Biden, who is expected to be the presidential candidate of the Democrats in the US in recent days and is currently the president, may withdraw from the race due to health problems. Trump and Biden’s debate on CNN last week was also much talked about and the public saw the program as “Trump’s victory”.

Biden’s difficulty in speaking in some situations, confusing words and not being able to say the exact words he wanted to say caused rumors to increase that he could withdraw from the race.

“Maybe I can’t speak as fast as I used to or stand as long as I used to, but I have the capacity to run the state. It’s obvious what I’ve done.”

Trump’s court process, also known as the “hush-money case”, continues. Although a prison sentence is not expected to be handed down, there is still a danger for Trump…