Paul Johnson Standard Chartered’s Geoff Kendrick forecasts a Bitcoin rise to 200K by year end, saying the $19B crash cleared excess leverage and ETF inflows plus gold’s rally could drive the next surge.
Bitcoin rise to 200K prediction stands tall after record $19B market crash
Bitcoin’s volatility may be shaking traders, but Standard Chartered’s global head of digital assets research Geoff Kendrick says the world’s largest cryptocurrency is still on track for a powerful Bitcoin rise to 200K by the end of 2025. Speaking at the 2025 European Blockchain Convention in Barcelona, Kendrick called the recent $19 billion market liquidation a “healthy reset” that could pave the way for the next rally phase.
“The selloff cleared excessive leverage and allowed stronger hands to step in,” Kendrick told Cointelegraph. “My official forecast is $200,000 by the end of the year.”
The crypto market saw one of its biggest liquidations on record earlier this month, with more than $19 billion in leveraged positions wiped out over the weekend of October 10. Bitcoin briefly plunged to a four-month low near $104,000 before recovering above $108,000.
At the time of writing, Bitcoin traded around $108,260, down about six percent over the past month. Kendrick said the aftermath of the liquidation may take weeks to stabilize but ultimately represents an accumulation window for investors. “This could become the next major buying opportunity,” he said.
ETF inflows and gold momentum fuel renewed optimism
Kendrick pointed to Bitcoin exchange-traded funds (ETFs) as the primary catalyst for Bitcoin’s next major uptrend. “The current dip will prepare us for another leg up, mostly on the back of ETF inflows,” he explained. “There’s no reason for them to stop.”
Bitcoin ETF products have already shown signs of revival. According to Farside Investors, the funds recorded $477 million in net positive inflows on Tuesday, marking a sharp rebound after four consecutive days of politically driven outflows. Kendrick believes this renewed institutional appetite is a strong indicator that the market is regaining confidence.
He also emphasized that gold’s rally to record highs could accelerate Bitcoin’s move higher. “Everything playing out in gold — the Fed rate cuts, government uncertainty — is now feeding into Bitcoin’s story as digital gold,” Kendrick said.
As gold continues to attract global capital amid inflation and market unease, Kendrick expects Bitcoin to mirror this pattern, reinforcing its role as a modern safe-haven asset. “Gold’s strength confirms that investors are seeking protection in hard assets. Bitcoin is the digital extension of that demand,” he noted.
Trump tariffs and Federal Reserve policy shape macro outlook
Despite renewed tariff threats from President Donald Trump, Kendrick remains confident that Bitcoin’s long-term trajectory will stay intact. He views the tariff concerns as temporary noise against a backdrop of expanding liquidity and institutional participation.
In Standard Chartered’s base case, Bitcoin is expected to close the year above $150,000, even under conservative conditions. In its bull case — a Bitcoin rise to 200K — the key drivers are ETF inflows, rate cuts from the Federal Reserve, and continued institutional engagement.
“As the Fed cuts rates, liquidity flows back into risk assets,” Kendrick explained. “Bitcoin has historically benefited from these cycles, and this time is no different.”
The strategist also said that the alignment of monetary policy and investor sentiment is creating ideal conditions for Bitcoin’s rebound. “The macro environment is setting up perfectly for a renewed bull run,” he added.
Institutional demand builds and long-term targets grow
Following the market crash, institutional investors have started to return, taking advantage of lower prices and cleaner market conditions. On-chain data shows Bitcoin reserves on exchanges falling again, suggesting increased accumulation by long-term holders.
“This is what strong hands do,” Kendrick said. “They buy when others panic. It’s a classic setup for the next major upward phase.”
He also reiterated his earlier forecast from February that Bitcoin could climb to $500,000 by the end of President Trump’s second term in 2028. “Each cycle strengthens Bitcoin’s foundation,” Kendrick said. “We are still early in its global adoption curve.”
With ETF flows improving, gold prices soaring, and the Federal Reserve maintaining an accommodative stance, analysts across major trading desks are aligning with Standard Chartered’s bullish perspective. Many now view the $19 billion crash not as a setback but as a reset — one that purges excess leverage and restores market health.
As sentiment gradually shifts from fear to optimism, Kendrick’s message resonates across the digital asset community: “Volatility is not a weakness. It’s the system clearing itself before the next surge. The stage is set for Bitcoin’s rise to 200K.”
