Standard Chartered Bank: Bitcoin's target of $100,000 at the end of the year may be too low; recovery or acceleration after October 6

Comparing news, Geoff Kendrick, the global head of digital asset research at Standard Chartered Bank, said that Bitcoin may move to an all-time high of $126,000 before the end of the year, and the related recovery may accelerate after October 6. He said, “For the first time since this year, there is a risk that my forecast of $100,000 at the end of the year may be too low.

Kendrick pointed out that the recent rise was mainly driven by short liquidations, but Bitcoin spot ETF inflows have also begun to recover. The current low volume of open positions may leave room for more investors to return to the market as prices rise.

In February of this year, Kendrick lowered Standard Chartered's Bitcoin year-end target from $150,000 to $100,000, and Ethereum's target from $7,500 to $4,000. At the time, he expected Bitcoin to fall to around $50,000, Ethereum to fall to around $1,400, and then pick up for the rest of the year.