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With Bitcoin’s recent strong recovery, predictions that it could surpass $100,000 by the end of the year have also begun to increase.
At this point, Standard Chartered assessed that its previously announced year-end 2026 target of $100,000 for Bitcoin may be too low.
Jeff Kendrick, the bank’s head of Digital Asset Research, stated that a more optimistic picture has emerged for $BTC following the recent surge.
In his latest client note, Kendrick stated, “For the first time this year, there’s a risk my year-end forecast of $100,000 will be significantly lower.”
The analyst also predicted that Bitcoin’s rally could strengthen further after October 6th, with a potential move towards its previous all-time high of $126,000 by the end of the year.
Kendrick also assessed that the recent rise in Bitcoin was primarily due to the liquidation of short positions. He added that the recovery in capital inflows into spot Bitcoin ETFs was also influential.
According to Kendrick, the rally so far has been largely driven by the liquidation of short-selling positions. However, the recovery in inflows into spot Bitcoin ETFs suggests that the rally could spread to a broader investor base.
Kendrick had previously lowered his year-end target price for Bitcoin from $150,000 to $100,000. He also predicted that $BTC would fall to $50,000 before rising to $100,000 by the end of the year. However, the bank’s latest assessment indicates a renewed optimism regarding the target following Bitcoin’s strong recent rise.
*This is not investment advice.