As a seasoned crypto investor with a keen eye on market trends and geopolitical factors, I find Standard Chartered’s recent analysis both intriguing and reassuring. The bank’s research sheds light on two key scenarios that could significantly impact the cryptocurrency market: U.S. fiscal policies and potential political developments.
According to a report from CoinDesk, Standard Chartered’s latest research explores how U.S. fiscal policies might influence the cryptocurrency market. The bank’s findings indicate that the increasing likelihood of U.S. fiscal supremacy, marked by the Federal Reserve purchasing government debt, could strengthen the allure of cryptocurrencies as viable alternatives for investors.
Standard Chartered puts forward a possibility: In circumstances where fiscal influence grows more prominent, there may emerge favorable conditions for digital currencies like Bitcoin to thrive. The bank’s report suggests that such economic situations could make Bitcoin an alluring hedge against the risk of de-dollarization and diminishing trust in the US Treasury market.
A possible rephrasing: The possibility of Donald Trump securing another term as the U.S. President may shape the cryptocurrency sector in a significant way, according to Standard Chartered. During his previous tenure, foreign official buyers showed signs of reducing their purchases from the U.S. Treasury market due to fiscal concerns, a trend that could intensify if Trump wins again. The bank highlights the considerable gap between the average annual net selling of U.S. government debt during Trump’s presidency ($207 billion) and Biden’s tenure so far ($55 billion), suggesting potential implications for fiscal policies and market responses.
In addition, the bank believes that a second term for Trump could result in a more favorable regulatory landscape for digital assets. Such favoritism might include less restrictive regulations and the green light for U.S.-listed spot Bitcoin and other cryptocurrency ETFs. This proactive approach, coupled with the indirect impact of de-dollarization, sets the stage for potentially higher valuations and broader acceptance of Bitcoin and related digital assets.
Based on CoinDesk’s reporting, Standard Chartered remains bullish about Bitcoin’s price forecast. They continue to predict a price of $150,000 by year-end and $200,000 by the end of 2025.
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2024-05-08 00:49