Bitcoin (BTC) broke through the $80000 mark last Sunday, reaching a high of $81500. Since Donald Trump, who supports cryptocurrency, confirmed that he will be elected President of the United States on November 6, the growth of Bitcoin has reached 17%.

According to The Block, Geoff Kendrick, head of foreign exchange and digital asset research at Standard Chartered Bank, predicts that Bitcoin will continue to rise before the end of the year, hitting the "easily achievable" $100000 before the expiration date of some Bitcoin options on December 27th. In his report released on October 24th, he predicted that Bitcoin would surpass $73000 on election day.

Kendrick said, "I predict that the next level will be US $125000 at the end of this year, although I noticed that after the 2016 election, many Trump trades peaked before and after taking office on January 20... So if BTC cannot reach US $125000 on December 31, I think it will reach US $125000 before January 20."

Optimistic about SOL reaching a new high before the end of the year

Kendrick further predicts that given the recent gains in Ethereum's Ethereum (ETH) and Solana's SOL, the rise of Bitcoin may "skyrocket" (i.e. drive overall market growth), and some tokens may perform better than Bitcoin.

It seems inevitable that SOL will reach a new high before the end of the year (with a historical high of $260 in November 2021). As for ETH's new high (breaking through $4866 in November 2021), we may have to wait until around the inauguration ceremony, "Kendrick wrote." More broadly, we believe the overall market will continue to rise, and among these three, SOL's performance may be the best

The total market value of cryptocurrencies is expected to reach $10 trillion by 2026

The rise in Bitcoin prices and bullish activity in the stock market have driven the prices of various other cryptocurrencies. According to the data of The Block, Cardano's ADA rose by more than 35% last Sunday, which may be affected by the comments made by its founder Charles Hoskinson at the weekend. He claimed that he intended to lobby the Trump government for a favorable cryptocurrency policy.

"I have personal friends with some legislators and some people who are now members of the Trump government." Hoskinson said, "We hope to have a good dialogue with them in the next few months to integrate these policies, and I hope to participate in them, but based on the fact that they have not yet taken office, this is still to be discussed."

Kendrick predicts that the overall value of the cryptocurrency market will continue to rise with the adoption of cryptocurrencies, writing:

With the rise of the entire market and the emergence of new practical application scenarios, I believe that by the end of 2026, the entire asset class will reach $10 trillion

According to CoinGecko's data, the total market value of cryptocurrencies before the deadline was $2.88 trillion, which has not yet surpassed the historical high of $3 trillion reached in November 2021.