Jeff Kendrick, Head of Digital Asset Research at Standard Chartered, has suggested that Bitcoin could approach its all-time high by November 5, potentially surpassing $73,000. This prediction is based on an analysis of derivatives and trading metrics.

“We use Bitcoin’s daily turnover data and popular strike prices to forecast potential price movements after the elections. Our base case scenario is $73,000 on election day,” Kendrick stated.

Impact of US Election Results

Kendrick predicts that a Donald Trump victory could lead to an immediate 4% increase in Bitcoin’s value following the results, with an additional 10% rise in the days afterward. He also highlighted the significance of options market dynamics, noting that the high volume of call options expiring on December 27 with a strike price of $80,000 could influence prices.

Republican Victory: Bitcoin to $125,000?

“If the Republicans win, Bitcoin could reach $125,000 by the end of the year,” Kendrick added.

Alternatively, should Kamala Harris become president, Bitcoin may experience a brief dip but is expected to recover to $75,000 by year-end.

Correlation Between Price and Political Sentiment

Kendrick observed that Bitcoin’s recent price growth coincides with increased activity from Trump supporters. According to RealClearPolitics, Trump’s odds of winning are 59%, while platforms like Polymarket estimate his chances at 75%.