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Alright, here’s my version of that piece, keeping in mind the subtleties and the possibility of a little “personal flair”: Toncoin (TON) Value Forecast for March 26th
**Title: Standard Chartered Predicts Bitcoin’s Ascent to $500K After Trump’s Reserve Proposal – Despite a Rocky Period**
* **In essence:** Bitcoin experienced a tough February, its most challenging since the middle of 2022.
* **However:** Standard Chartered anticipates Trump’s recent remarks have paved the way for a substantial price recovery.
Donald Trump’s release of further specifics regarding his proposed national cryptocurrency reserve has opened the possibility of Bitcoin reaching an astonishing $500,000, according to Standard Chartered Bank.
Geoffrey Kendrick, the head of digital asset research at the UK-based bank, thinks the market’s favorable response to Trump’s pronouncements indicates a rising acceptance of digital assets by the US government.
Kendrick penned that this is being understood as “Trump’s initial clear declaration of optimism towards cryptocurrencies,” implying that a Trump administration might intervene to bolster the market during a considerable decline, akin to the Federal Reserve’s actions.
Trump’s statement follows a period of generally unfavorable sentiment in the crypto market. This was driven by renewed tariff anxieties, a major breach (one of the largest ever in the crypto sphere), impatience concerning the timeline for Trump’s crypto policies, and the unraveling of popular Bitcoin trading approaches.
**$3.2 Trillion Surge**
The entire cryptocurrency market witnessed an 11% increase after Trump voiced his desire for the reserve plan to incorporate various cryptocurrencies like Bitcoin, Ethereum, XRP, Solana, and Cardano. The total market capitalization of all cryptocurrencies is roughly $3.2 trillion.
The plan to investigate a cryptocurrency reserve was originally announced in an executive order back in January.
Kendrick pointed out that Bitcoin’s value decreased by approximately 17.5% in February, making it the cryptocurrency’s worst month since June 2022.
He added, “The subsequent weekend was its best weekend since January 2021.”
Kendrick implies that traders might be placing their faith in Trump to mitigate the worst-case market scenarios forecasted by analysts models.
He remarked that the marketplace may witness a slight surge presently, reiterating his stance that Standard Chartered’s bold prediction of Bitcoin attaining $500,000 by the period Trump perhaps departs from his position remains highly plausible.
These anticipations depend on the notion that a Trump government will be more open to crypto, and that ongoing investment in Bitcoin spot ETFs will propel the price to soar.
Kendrick additionally proposed the concept that a US strategic Bitcoin reserve could function as an impetus for other governments, spanning from US states to entire countries, to commence constructing their individual caches.
Kendrick clarified that this might be “the encouragement US states require to initiate their personal Bitcoin reserve strategies,” and “may even motivate other nations to join the trend, akin to Abu Dhabi’s Bitcoin acquisitions.”
While several states are contemplating the notion of Bitcoin strategic reserves, solely Utah and Arizona have genuinely undertaken tangible measures to materialize it.
David Sacks, frequently labeled the US crypto “czar,” is anticipated to reveal further specifics concerning these reserve blueprints at the “Crypto Summit” in Washington this Friday.
*Andrew Flanagan serves as a market journalist at DL News. Possess a valuable hint? Contact him at [email protected].*
