PANews reported on October 31 that according to The Block, Geoff Kendrick, global head of digital asset research at Standard Chartered Bank, said that as investors closed their positions before the US presidential election, the possibility of Bitcoin breaking through its historical highs in the near term has decreased, and price corrections and increased volatility may occur before November 5. Although the price of Bitcoin reached $73,563 this week, it has not yet broken through the historical high of $73,700 set in March.

Kendrick pointed out that the volatility of the Bitcoin market will increase during the election, especially if the election results are delayed. In addition, he believes that if the Republicans win the election, Bitcoin is expected to rise to $125,000 by the end of the year, triggering a new round of altcoin craze, of which Solana may benefit significantly.