🚨 Standard Chartered predicts that bitcoin could hit a record high in August followed by a rise to $100 ,000 by the US presidential election in November.

The prediction from Mr Kendrick, head of currency and digital assets research at Standard Chartered Bank, hinges on Joe Biden remaining in the US presidential race.

The Standard Chartered analyst has modeled a "least likely" scenario in which Biden withdraws from the presidential race at the end of July, saying it could send the price of bitcoin falling to between 50,000 and $55 ,000.

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