According to Geoff Kendrick, global head of digital assets research at Standard Chartered, Bitcoin should still be on the right track to succeed in $200,000 by the top of the 12 months, even after a record $19 billion market unwind and renewed tariff threats from US President Donald Trump.
As Cointelegraph reported on the time, the crypto market saw a record $19 billion liquidation over the weekend of October 10, causing the worth of Bitcoin (BTC) to fall to a four-month low of $104,000 by Friday.
When the dust settles after the huge liquidation event, investors may even see it as a buying opportunity. This dynamic could lead on to a Bitcoin rally to $200,000 by the top of 2025, Kendrick said. Despite the volatility, he stays confident that Bitcoin will get better when markets stabilize.
“My official forecast is $200,000 by the top of the 12 months,” he told Cointelegraph during an exclusive interview on the European Blockchain Convention 2025 in Barcelona.
Despite the “Trump noise around tariffs,” Kendrick said that in a bear case, he still expects prices to rise “well above $150,000” by the top of the 12 months, assuming the Federal Reserve continues to chop rates of interest to fulfill market expectations.
BTC/USD, 1-month chart. Source: Cointelegraph
Data from Cointelegraph shows that Bitcoin has fallen 6% over the past month and is trading at around $108,260 on the time of writing.
Kendrick said it could take several weeks for the aftermath of the liquidation event to subside, but investors could soon view the selloff as one other period of accumulation.
This could ultimately be the subsequent significant “buying opportunity” for investors, he said.
Bitcoin recovers because of ETFs and gold price: Geoff Kendrick
Kendrick predicted that sustained inflows into Bitcoin exchange-traded funds (ETFs) will probably be the most important driver of Bitcoin price momentum for the rest of the 12 months.
The current decline will set us up for an additional rise, “primarily as a result of ETF inflows,” Kendrick said, adding:
“There's no reason to stop. The government shutdown within the US, Fed rate cuts. All of this story is already playing out in gold.”
Gold's recent all-time highs will even translate into more momentum for Bitcoin because the safe-haven narrative re-emerges, he added.
Bitcoin ETFs saw a major increase in inflows this week after several days of politically motivated outflows. The funds posted positive net inflows of $477 million on Tuesday, breaking a four-day losing streak, based on Farside Investors.
In an interview in February, Kendrick predicted that Bitcoin could rise to $500,000 by the top of his second term in 2028, Cointelegraph reported.
