Standard Chartered wavers on $100K Bitcoin year-end call, says it may be ‘too low’
Bitcoin may move toward its all-time high of $126,000 before the end of the year, with the recovery potentially accelerating after Oct. 6, according to Geoff Kendrick, global head of digital asset research at Standard Chartered.
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Key Facts
- Fact 1: Bitcoin may move toward its all-time high of $126,000 before the end of the year, with the recovery potentially accelerating after Oct.
- Fact 2: 6, according to Geoff Kendrick, global head of digital asset research at Standard Chartered.
- Fact 3: “For the first time this year there is now a risk my end year forecast (of USD100k) is too low,” Kendrick wrote.
- Fact 4: 12 report, Kendrick cut Standard Chartered’s year-end Bitcoin target to $100,000 from $150,000 and its Ether target to $4,000 from $7,500.
Bitcoin may move toward its all-time high of $126,000 before the end of the year, with the recovery potentially accelerating after Oct. 6, according to Geoff Kendrick, global head of digital asset research at Standard Chartered.
Kendrick said in a Friday note shared with Cointelegraph that the latest rally has been driven largely by short liquidations, while inflows into spot Bitcoin exchange-traded funds have also started to recover. He said low open interest could leave room for more investors to return as prices rise. “For the first time this year there is now a risk my end year forecast (of USD100k) is too low,” Kendrick wrote.
(Original synthesis pending human/AI review — generated by the stub provider by selecting real sentences from the source material, not by writing new analysis or commentary.)
Original source: Cointelegraph
Also reported by Cointelegraph — Bitcoin.
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