Bitcoin remains on a potential path to $200,000 by the year’s end, despite a historic $19 billion market liquidation and fresh tariff concerns from US President Donald Trump, as noted by Standard Chartered’s global head of digital assets research, Geoff Kendrick.
Over the weekend of October 10, the crypto market faced an unprecedented $19 billion liquidation, leading Bitcoin’s (BTC) price to plunge to a four-month low of $104,000 by Friday, according to Cointelegraph.
As the situation stabilizes post-liquidation, investors might see this as an opportunity to buy. Kendrick suggested that this could trigger a Bitcoin surge to $200,000 by the end of 2025. He maintains optimism about Bitcoin’s recovery as the markets begin to recover.
“My official forecast is $200,000 by the end of the year,” he shared with Cointelegraph during an exclusive conversation at the 2025 European Blockchain Convention in Barcelona.
Even with the “Trump noise surrounding tariffs,” Kendrick believes that a price increase to “well north of $150,000” is possible in a bear scenario for the year’s conclusion, provided the US Federal Reserve continues its interest rate cuts to align with market expectations.
Bitcoin has dropped 6% over the previous month, trading around $108,260 at the time of this report, according to Cointelegraph data.
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Kendrick indicated that the effects of the liquidation might take several weeks to fully manifest, but investors may soon interpret the sell-off as yet another opportunity to accumulate.
This could represent a major upcoming “buying opportunity” for investors, he added.
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Bitcoin to rally on back of ETFs, gold price: Geoff Kendrick
Kendrick forecasted ongoing inflows into Bitcoin exchange-traded funds (ETFs) as the main catalyst for Bitcoin’s price movement throughout the remainder of the year.
The current dip is setting the stage for another upward movement, “primarily driven by ETF inflows,” Kendrick explained, stating:
“There’s no reason for them to stop. The US government shutdown, Fed rate cuts. All that narrative is already unfolding in gold.”
The recent record highs for gold will also contribute to Bitcoin’s momentum, as its narrative as a safe-haven asset returns, he asserted.
Bitcoin ETFs experienced a significant rebound in flows this week following several days of outflows linked to political factors. On Tuesday, the funds reported $477 million in net positive inflows, as per Farside Investors, breaking a four-day decline.
In a February interview, Kendrick estimated that Bitcoin might soar to $500,000 by the time Trump finishes his second term in 2028, according to Cointelegraph.
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