Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that Bitcoin may move towards a historical high of $126000 before the end of the year, and the recovery may accelerate after October 6th. The forecast of $100000 at the end of the year may be too low. Geoff Kendrick pointed out that the recent rise has been driven by short liquidation, and the inflow of funds into Bitcoin spot ETFs has recovered, with low current open interest levels. In February of this year, Geoff Kendrick lowered Standard Chartered Bank's year-end Bitcoin target from $150000 to $100000, and lowered Ethereum's target from $7500 to $4000. He expects Bitcoin to fall to around $50000 and Ethereum to fall to around $1400.
