Bitcoin is set to break its all-time record on the day of the U.S. elections.

Geoff Kendrick, Standard Chartered's digital asset analyst, predicts that Bitcoin could reach a record value of $73,000 during the U.S. presidential elections. This forecast is based on the dynamics of the options markets and trading volumes. Kendrick notes that prices may rise even further after this significant day.

Striking Bitcoin Prediction from Standard Chartered Expert

A senior official from Standard Chartered bank suggested that Bitcoin could see the $73,000 level on November 5, the day of the U.S. presidential elections.

In an analysis shared via email by the bank's Director of Digital Assets Research, Geoff Kendrick, the movements in derivative transactions and trading volumes in the cryptocurrency markets were examined.

According to Kendrick's assessment, if Donald Trump wins the election, an initial increase of 4% in Bitcoin is expected. If this increase continues, the total rise is projected to reach 10%.

Examining market data in detail, Kendrick pointed out the strong demand for $80,000 Bitcoin options contracts expiring on December 27. The expert analyst stated that if the Republicans gain a majority in Congress, the year-end Bitcoin target could rise to $125,000.

On the other hand, the analysis indicated that if Vice President Kamala Harris wins the election, a short-term decline in Bitcoin could occur, but it is expected that the price will stabilize around $75,000 as we enter 2025.

According to RealClearPolitics and Polymarket data, Trump's election victory and the likelihood of Republicans gaining an advantage in Congress appear high. Kendrick emphasized that in recent days, Bitcoin prices have moved in parallel with pro-Trump transactions.