Kendrick stated that inflows into US spot ETFs and from institutional investors would increase, and predicted that Bitcoin would reach $100,000 by the end of the year and $500,000 in 2030.
Kendrick stated that Bitcoin will rise to $100,000 by the end of this year. However, in the short term, $75,000 and $85,000 could act as significant resistance levels. If Bitcoin breaks above these levels, it could reach $100,000 by the end of the year.
Kendrick noted that some analysts expect Bitcoin to fall to $20,000 to $30,000 in the fourth quarter, but that this probability is close to zero.
Kendrick stated that Bitcoin is nearing its bottom and that now is the time to accumulate through gradual buying rather than panic selling.
The analyst noted that spot Bitcoin ETF holders largely held onto their positions despite the recent price drop, arguing that this increases the likelihood of a different market cycle than in past downturns.
Kendrick concludes by stating that stablecoins, Ethereum, Solana, and decentralized finance (DeFi) will be key growth catalysts, predicting that Ethereum will reach $4,000 and Solana will reach $135 by the end of the year.
*This is not investment advice.