Bitcoin and Solana on the rise: Standard Chartered bank predicts new records!

Bitcoin and Solana on the rise: Standard Chartered bank predicts new records!

On Sunday morning, Bitcoin broke away from its previous record highs and surpassed the inflation-adjusted $80,000 mark. This jump in price came against the backdrop of renewed investor confidence following Donald Trump's re-election to a second presidential term. Such developments are sparking optimism among investors and analysts, with renowned bank Standard Chartered presenting its bold forecasts.

Geoff Kendrick, an analyst at the bank who had accurate predictions on bitcoin in mind, is now aiming even higher. He believes that Bitcoin has the potential to reach the $100,000 mark as early as December 27 this year. His vision is even more ambitious, claiming that Bitcoin could climb to an astonishing $125,000 by the end of the year, with the possibility of further gains before the January 20 inauguration not out of the question.

"Looking at the past, after the 2016 election, we saw how 'Trump trades' surged around the inauguration. If bitcoin doesn't reach $125,000 by Dec. 31, I expect it to happen by Jan. 20," Kendrick wrote in an email.

The recent rise in the price of bitcoin has buoyed other cryptocurrencies such as Ethereum and Solana. Kendrick predicts that Solana (SOL) could reach its all-time high of $260 before the end of this year. As for Ethereum (ETH), which soared to $4,866 in November 2021, its new record could be reached early next year.

"While a new all-time high for SOL seems inevitable before the end of the year, ETH could achieve similar success in the near future," Kendrick adds. "We expect all cryptocurrencies to continue to grow, with Solana appearing to be best positioned to outperform its major competitors."

This optimism in the cryptocurrency market suggests that the coming months may bring unforgettable volatility and perhaps a revolution in investment strategies. Investors who follow these trends should therefore be prepared for the potential opportunities they could bring.

*This is not investment advice.

Coingarage team