Bitcoin's price could increase to $100,000 ahead of the U.S. presidential election in November, according to Standard Chartered.

"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," Geoffrey Kendrick, head of Standard Chartered Bank's forex and digital assets research, said Thursday in an email sent to The Block. "The Biden administration recently showed pragmatism in approving the spot ether ETFs, but subsequently Biden vetoed efforts to repeal SAB 121. So Trump is still more friendly than Biden," Kendrick added.

The Standard Chartered analyst pointed to tomorrow’s Non-Farm Payrolls data and noted that, if they are "friendly," he expects a fresh all-time-high for bitcoin's price to be reached over the weekend. …