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According to insights from COINOTAG dated October 31, *Geoff Kendrick*, the head of global digital asset research at Standard Chartered Bank, has indicated potential *downward movements* in Bitcoin prices leading up to the US presidential election on November 5. As traders opt to secure profits ahead of this pivotal event, an increase in *market volatility* is anticipated. The likelihood of Bitcoin surpassing its historical peak of over *$73,700* in the short term appears to be diminishing. Kendrick further elaborated that a decisive election win for the Republican Party, particularly under *Donald Trump*, could result in heightened fluctuations in Bitcoin valuations. He posited that such a scenario might propel Bitcoin towards *$125,000* before year-end, potentially igniting renewed interest in various *altcoins*. Accurate assessments like Kendrick’s could inform investors navigating the fast-evolving crypto landscape.
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