Standard Chartered anticipates Bitcoin (CRYPTO:BTC) to achieve a fresh all-time high in August, potentially reaching $100,000 by the U.S. presidential election in November.

Geoffrey Kendrick, head of forex and digital assets research at the bank, links this forecast to market perceptions favoring a Trump victory, which could lead to pro-crypto policies.

Kendrick suggests scenarios where Bitcoin could dip to $50,000-$55,000 if Biden exits the race by late July, highlighting August 4 as a crucial date for Biden’s candidacy.

The bank maintains bullish year-end targets for Bitcoin, projecting $150,000 by the end of 2024 and $200,000 by 2025.