Bitcoin breaks $82K: Standard Chartered bullish on year-end Solana at all-time high, total crypto market cap could reach $10 trillion

The price of Bitcoin has surged past 82K after the market was boosted by Trump's election, and with the soaring demand for cryptocurrencies, Standard Chartered analyst Geoff Kendrick predicts that a bull market for cryptocurrencies such as Ethereum (ETH) and Solana (SOL) is imminent. He estimates that Solana will reach a new all-time high by the end of the year, and Bitcoin is expected to surpass 125K before the presidential inauguration in January next year.

Trump's Election Drives Bitcoin to Soar, Reaching a New High of $82K

Following Trump's victory, the price of Bitcoin has surged to $82K, hitting a new high. Standard Chartered Bank analyst Geoff Kendrick previously predicted that Bitcoin would rise to $80K before the election. Kendrick further forecasts that the price of Bitcoin will steadily rise by the end of the year, possibly peaking at $100K before the Bitcoin options expiry date on December 27.

Kendrick points out that the next significant milestone for Bitcoin is $125K. He states that if Bitcoin fails to reach $125K by the end of December, it will at least hit that mark before the U.S. presidential inauguration on January 20 next year. The volatility during this period reflects the strong demand for cryptocurrencies in the market, and the strength of Bitcoin will also drive other cryptocurrencies to rise together.

ETH and SOL Expected to Follow Bitcoin's Rise, SOL Likely to Hit New High by Year-End

Kendrick is not only optimistic about the rise of Bitcoin driving market performance but also particularly bullish on Solana SOL. He believes that Solana will reach a new high by the end of the year and is likely to surpass the record of $260 set in November 2021. The historical high for Ethereum ETH is $4,866, and it is expected to have a chance to surge again around the U.S. presidential inauguration on January 20.

The current market enthusiasm is also reflected in other cryptocurrencies, including Cardano ADA, which has surged by 35% in the past 24 hours, mainly due to founder Charles Hoskinson stating that he will collaborate with Trump to discuss favorable policies for cryptocurrencies. Hoskinson also revealed on the show that he has had interactions with Trump and will actively participate in related policy discussions in the future.

Overall Cryptocurrency Market Continues to Rise, Standard Chartered Predicts Total Market Value Could Reach $10 Trillion by 2026

With the rise of Bitcoin and other cryptocurrencies, the overall cryptocurrency market value is rapidly increasing. Kendrick predicts that as the application of cryptocurrency technology expands, global cryptocurrency market will continue to attract inflows of funds, and the entire market size could reach $10 trillion by 2026.

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