Standard Chartered Predicts Growth for Bitcoin, Ethereum, and Solana
Standard Chartered's Global Head of Digital Assets Research, Geoff Kendrick, predicts a potential increase in the value of Bitcoin, Ethereum, and Solana, regardless of the outcome of the U.S. election.
Bitcoin: Could triple in value under a Trump administration and reach $200,000 by the end of 2025.
Could quadruple in value under a Trump administration and reach $7,000 by 2025.
Could increase fivefold, but this would require specific conditions, such as the introduction of a Solana ETF under Trump and significant improvements to the network's throughput.
Trump Administration: Kendrick believes a Trump win could be more supportive of the Solana ecosystem and lead to a greater increase in its value compared to a Harris administration.
Kendrick emphasizes the need for a significant increase in Solana's network throughput to achieve his valuation forecast. He highlights the role of Firedancer, a new validator client software, and Solana's dominance across multiple sectors.
Under a Harris presidency, Kendrick suggests Bitcoin could outperform Ethereum, which would then outperform Solana.
MarketVector Report: A September 2024 report by MarketVector suggested that Solana could capture 50% of Ethereum's market cap, potentially reaching $330.
The influence of Bitcoin as an institutional asset class will be explored at Benzinga's upcoming event on November 19th.