Cryptocurrency valuations showed signs of recovery this week as investor interest bounced back following a massive $19 billion market liquidation. While the recent crash sent Bitcoin (BTC) to a four-month low near $104,000, Standard Chartered’s global head of digital assets research, Geoff Kendrick, views the sell-off as a potential buying opportunity that could propel Bitcoin above $200,000 by the end of 2025.
Despite this optimistic forecast, the absence of strong inflows from U.S. spot Bitcoin exchange-traded funds (ETFs) has so far constrained Bitcoin’s upward momentum. This lack of ETF buying has contributed to Bitcoin being on track for its worst October performance since 2013, a month usually marked by gains.
Kendrick acknowledged the recent market turbulence, including the $19 billion liquidation event on October 10 and ongoing geopolitical uncertainties such as tariff concerns. However, he remains confident, stating, “My official forecast is $200,000 by the end of the year.” He noted that even in a more conservative scenario, Bitcoin could rise well above $150,000, particularly if the Federal Reserve continues to cut interest rates as anticipated.
The recent correction may thus prime the market for a renewed rally, with savvy investors potentially capitalizing on the dip. As volatility eases and markets stabilize, Bitcoin’s journey toward unprecedented highs appears intact.
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