Standard Chartered predicts a dramatic surge in Bitcoin's price, potentially reaching $100,000 ahead of the U.S. presidential election in November. Geoffrey Kendrick, head of forex and digital assets research at Standard Chartered, shared his insights in an email to The Block on Thursday.

"As we approach the U.S. election, I expect $100,000 to be reached and then $150,000 by year-end in the case of a Trump victory," Kendrick stated. He pointed out the Biden administration's recent pragmatic approach in approving spot ether ETFs but noted Biden's veto of efforts to repeal SAB 121. "Trump remains more favorable towards cryptocurrencies than Biden," Kendrick added.

Kendrick also highlighted the significance of the upcoming Non-Farm Payrolls data. He suggested that positive data could trigger a new all-time high for Bitcoin over the weekend, paving the way for $80,000 by the end of June.

Maintaining his bullish outlook, Kendrick reiterated his year-end price prediction of $150,000 and forecasted a $200,000 price for Bitcoin by the end of 2025. "A $150,000 price by end-2024 would place Bitcoin among the $3 trillion market cap club, a milestone recently achieved by NVDA," he remarked.

As of now, Bitcoin is trading at $70,979, showing little movement over the past 24 hours according to The Block's Price Page. If Kendrick's predictions hold true, the next few months could be pivotal for Bitcoin and the broader cryptocurrency market.