Wall Street analyst sees Bitcoin hitting new highs despite U.S. shutdown

Core Insights - October has been a significant month for the crypto market, with Bitcoin reaching a new all-time high (ATH) of $125,559.21 on October 5, marking a 100% increase over the past year [1] - Bitcoin's market capitalization is now comparable to major companies like Nvidia, Microsoft, Apple, Alphabet, and Amazon [1][2] - A bullish price prediction for Bitcoin has been made by Standard Chartered's head of digital asset research, forecasting a rise to $135,000 [2][3] Market Dynamics - The U.S. government shutdown is influencing the crypto market, with analysts suggesting it is playing a larger role in driving Bitcoin's rally compared to previous cycles [3][4] - Market skepticism surrounding the government shutdown is contributing to the bullish sentiment in Bitcoin [5] - Predictions indicate that Bitcoin will continue to rise during the shutdown period, with spot Bitcoin exchange-traded funds (ETFs) expected to attract an additional $20 billion by year-end, potentially pushing Bitcoin's price to $200,000 [6]