Geoff Kendrick, a prominent analyst at Standard Chartered, has made a bold prediction that Bitcoin (BTC) could soar to $100,000 before the US presidential election later this year. His optimism is fueled by various factors, including upcoming economic data and political developments that could impact the cryptocurrency market.

Kendrick believes that the upcoming Non-Farm Payroll (NFP) data, scheduled for release on June 7, could be a game-changer for Bitcoin. If the data is positive, it could push Bitcoin to an all-time high over the weekend, paving the way for further gains. Moreover, Kendrick predicts that if Donald Trump wins the presidential election, Bitcoin could reach a staggering $150,000 by the end of the year.

The analyst's predictions are based on his belief that the Trump administration would be more favorable to the cryptocurrency market than the current Biden administration. Kendrick also sets a year-end price target of $150,000 for Bitcoin and predicts it could reach $200,000 by the end of 2025. This would put Bitcoin's market capitalization at $3 trillion, on par with that of Nvidia (NVDA), a significant player in the global financial world.

Currently, Bitcoin is trading around $71,000, but Kendrick's predictions suggest that the cryptocurrency could be poised for a significant surge in the coming months. With economic data and political events expected to serve as catalysts for future price movements, Bitcoin's potential to solidify its status as a major asset in the global financial world is significant.

In conclusion, Geoff Kendrick's predictions suggest that Bitcoin could be on the verge of a major breakthrough, driven by economic data and political developments. While the cryptocurrency market is known for its volatility, Kendrick's predictions offer a glimpse into the potential future of Bitcoin and its growing influence in the global financial world.