Bitcoin might still be poised to hit $200,000 by year-end, despite a historic $19 billion market liquidation and renewed tariff threats from US President Donald Trump, according to Geoff Kendrick, Standard Chartered’s global head of digital assets research.
The crypto market faced an unprecedented $19 billion liquidation event over the weekend of October 10, leading to Bitcoin’s (BTC) price dropping to a four-month low of $104,000 by Friday, as reported by Cointelegraph.
As investors regroup after this significant liquidation, some may view the situation as a buying opportunity. Kendrick suggests this could spark a Bitcoin rally to $200,000 by the end of 2025. Although the market is volatile, he remains optimistic that Bitcoin will recover as stability returns.
“My official forecast is $200,000 by the end of the year,” he stated during an exclusive interview with Cointelegraph at the 2025 European Blockchain Convention in Barcelona.
Despite the “Trump noise around tariffs,” Kendrick anticipates a price increase “well north of $150,000” in the worst-case scenario for year-end, assuming the US Federal Reserve continues to lower interest rates to align with market expectations.
Bitcoin fell 6% over the past month, trading at approximately $108,260 at the time of writing, according to Cointelegraph data.
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Kendrick mentioned that the effects of the liquidation event might take weeks to settle, but investors might soon see the sell-off as another accumulation phase.
This could ultimately present the next significant “buying opportunity” for investors, he noted.
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Bitcoin to rally on back of ETFs, gold price: Geoff Kendrick
Kendrick forecasts continued inflows into Bitcoin exchange-traded funds (ETFs) as the main driver of Bitcoin’s price momentum for the remainder of the year.
The current downturn may set the stage for another upward movement, “mostly on the back of the ETF inflows,” Kendrick indicated, adding:
“There’s no reason for them to stop. The US government shutdown, Fed rate cuts. All that story is playing out already in gold.”
Gold’s recent all-time highs will also contribute to increased momentum for Bitcoin, reinforcing its narrative as a safe-haven asset, he added.
Bitcoin ETFs experienced a notable rebound in inflows this week after several days of politically influenced outflows. On Tuesday, the funds recorded $477 million in net positive inflows, according to Farside Investors, ending a four-day decline.
In a February interview, Kendrick predicted that Bitcoin could soar to $500,000 by the time Trump ends his second term in 2028, as reported by Cointelegraph.
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