ChainCatcher News: StanChart Exec Sees Continued Boost for Bitcoin, Digital Assets After Fed Rate Cut

Geoff Kendrick, Head of FX and Digital Asset Research at Standard Chartered Bank, believes that the recent 50 basis point rate cut by the Federal Reserve will continue to boost Bitcoin and the broader digital asset market.

Kendrick argues that macroeconomic factors will drive digital asset price increases, a trend he believes will be unaffected by the upcoming US Presidential election outcome.

He points out that Bitcoin and other digital assets performed strongly following Wednesday's Federal Open Market Committee (FOMC) rate cut. Kendrick says that the steepening US Treasury yield curve is favorable for digital assets and he anticipates inflows into spot Bitcoin ETFs in October.

Kendrick reiterates his previous prediction that Bitcoin will reach new highs by year-end, with a potential price target of $125,000 if Trump wins and $75,000 if Harris wins.