A file $19 billion market liquidation despatched Bitcoin costs tumbling to a four-month low, however Customary Chartered’s international head of digital property analysis, Geoff Kendrick, maintains his bullish outlook for the asset.
Kendrick’s post-crash outlook
Kendrick advised Cointelegraph that the current market crash might turn into a major shopping for alternative for buyers because the market stabilizes within the coming weeks.
He acknowledged within the interview:
“My official forecast is $200,000 by the tip of the 12 months.”
Even amid renewed tariff threats from US President Donald Trump and ongoing volatility, Kendrick expects Bitcoin to rebound strongly.
He famous that in a worst-case state of affairs, with continued Federal Reserve price cuts, Bitcoin might nonetheless attain “effectively north of $150,000” by year-end.
Current market strikes
Bitcoin dropped 6% over the previous month and was buying and selling round $108,260 on the time of reporting.
The sharp correction adopted the $19 billion liquidation occasion, which Kendrick believes buyers could quickly view as an accumulation section.
ETFs and gold to drive the subsequent rally
Kendrick highlighted ongoing inflows into Bitcoin exchange-traded funds (ETFs) as the first catalyst for future worth will increase.
He argued that the present dip units up one other leg increased, “totally on the again of the ETF inflows.”
Based on Farside Traders, Bitcoin ETFs rebounded with $477 million in web constructive inflows after a number of days of outflows associated to political uncertainty.
For detailed ETF influx and outflow knowledge, see the Bitcoin ETF inflows and outflows chart.
Kendrick additionally pointed to gold’s all-time highs as reinforcing Bitcoin’s safe-haven narrative, which might additional enhance worth momentum.
Lengthy-term projections
Kendrick beforehand predicted that Bitcoin might attain $500,000 by the tip of a possible second Trump time period in 2028, sustaining a long-term constructive stance regardless of market volatility.