Despite a record $19 billion market liquidation and renewed tariff concerns from US President Donald Trump, Bitcoin may still be on track to reach $200,000 by the end of the year, according to Geoff Kendrick, Standard Chartered’s global head of digital assets research.
Over the weekend of October 10, the crypto market saw a historic $19 billion liquidation, driving Bitcoin’s price down to a four-month low of $104,000 by Friday, Cointelegraph reported.
As the market recovers from this massive sell-off, investors may view the dip as a prime buying opportunity. Kendrick believes this could fuel a Bitcoin rally to $200,000 by the end of 2025. Despite recent volatility, he remains confident that the cryptocurrency will rebound as markets stabilize.
“My official forecast is $200,000 by the end of the year,” Kendrick told Cointelegraph during an exclusive interview at the 2025 European Blockchain Convention in Barcelona.
Even amid the “Trump noise around tariffs,” he predicts a price rise “well north of $150,000” in a conservative scenario, provided the US Federal Reserve continues cutting interest rates in line with market expectations.
Bitcoin dropped 6% over the past month, trading at approximately $108,260 at the time of writing. According to Geoff Kendrick, the aftermath of the recent $19 billion liquidation may take several weeks to fully settle, but he expects investors could soon see the sell-off as another accumulation phase.
“This could turn into the next significant buying opportunity for investors,” Kendrick said.
Looking ahead, Kendrick highlighted continued inflows into Bitcoin exchange-traded funds (ETFs) as the main driver of the cryptocurrency’s price momentum for the remainder of the year.
“The current dip sets the stage for another leg up, primarily fueled by ETF inflows,” he added.
“There’s no reason for them to stop. The US government shutdown, Fed rate cuts. All that story is playing out already in gold.”
Kendrick also noted that gold’s recent all-time highs could further boost Bitcoin’s momentum, as the cryptocurrency’s safe-haven narrative gains renewed attention.
Bitcoin ETFs experienced a sharp rebound in inflows this week following several days of politically driven outflows. On Tuesday, the funds recorded $477 million in net positive inflows, according to Farside Investors, ending a four-day losing streak.
