- Geoff Kendrick of Standard Chartered predicts that a Trump victory could send Solana price soaring fivefold by the end of 2025.
- Under a Trump presidency, ETH could quadruple and BTC could triple in value; a Harris win would favour BTC over ETH and SOL.
- Kendrick suggests a Trump administration would facilitate growth and regulatory ease for blockchain, particularly benefiting Solana.
- Regardless of the election winner, BTC is expected to reach US$200,000.
British multinational bank Standard Chartered has come out with its latest prediction on what happens to crypto after the US election. The United States will vote in a new president on November 5, 2024, with sitting president Joe Biden not running for re-election.
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With just one month left and polls showing the election is neck-and-neck, the outcome will also be important for crypto. While crypto is certainly not a topic on most voter’s minds, it’s becoming increasingly important.
Kendrick: Solana’s Price Could Increase Fivefold
Standard Chartered’s Geoff Kendrick said in a recent note that a Trump win would be fantastic news for Solana, sending SOL on a 5X rally. One SOL currently trades for US$143.39 (AU$212.75), so we’re talking about approx. US$715 (AU$1,060) by the end of 2025 if Donald Trump returns to the White House.
His other predictions: ETH could do a 4X and Bitcoin a 3X.
In rough terms from today’s prices under Trump I predict the following multiples by year-end 2025: SOL 5X, ETH 4X, BTC 3X.
Geoff Kendrick, Standard CharteredIf Kamala Harris comes out on top, things would be reversed; Kendrick says Bitcoin would do better than Ether, which itself would outdo SOL.
In U.S. dollar terms, we anticipate Ethereum reaching the $7,000 level by the end of 2025 in a scenario where Kamala Harris is president.
Geoff Kendrick, Standard CharteredTrump Better for SOL; Both Candidates Will See Bitcoin Succeed
According to Kendrick, a Trump administration is likely to be better for Solana and the ETFs would likely be approved. Whereas a Harris admin could be stricter, in regulatory terms, which would be better for ETH which is already well established.
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Kendrick sees potential for Solana to grow further, depending on an increase in the network’s throughput, which would require Firedancer, the external validator client, to be operational.
Trump’s policies would likely allow for faster growth and easier regulatory pathways for blockchain platforms like Solana. In this scenario, SOL is projected to outperform ETH and even Bitcoin, cementing its place as a dominant force in the blockchain sector.
Geoff Kendrick, Standard CharteredIn either case, a Harris or Trump presidency would still see BTC rise to US$200,000 (AU$296,882), although the OG crypto would likely be outperformed over time by altcoins.
Bitcoin is currently trading for US$62,113 (AU$92,185), slightly up from last week, gaining just 2.3%.
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