A record $19 billion market liquidation sent Bitcoin prices tumbling to a four-month low, but Standard Chartered’s global head of digital assets research, Geoff Kendrick, maintains his bullish outlook for the asset.

Kendrick’s post-crash outlook

Kendrick told Cointelegraph that the recent market crash could become a significant buying opportunity for investors as the market stabilizes in the coming weeks.

He stated in the interview:

“My official forecast is $200,000 by the end of the year.”

Even amid renewed tariff threats from US President Donald Trump and ongoing volatility, Kendrick expects Bitcoin to rebound strongly.

He noted that in a worst-case scenario, with continued Federal Reserve rate cuts, Bitcoin could still reach “well north of $150,000” by year-end.

Recent market moves

Bitcoin dropped 6% over the past month and was trading around $108,260 at the time of reporting.

The sharp correction followed the $19 billion liquidation event, which Kendrick believes investors may soon view as an accumulation phase.

ETFs and gold to drive the next rally

Kendrick highlighted ongoing inflows into Bitcoin exchange-traded funds (ETFs) as the primary catalyst for future price increases.

He argued that the current dip sets up another leg higher, “mostly on the back of the ETF inflows.”

According to Farside Investors, Bitcoin ETFs rebounded with $477 million in net positive inflows after several days of outflows related to political uncertainty.

For detailed ETF inflow and outflow data, see the Bitcoin ETF inflows and outflows chart.

Kendrick also pointed to gold’s all-time highs as reinforcing Bitcoin’s safe-haven narrative, which could further boost price momentum.

Long-term projections

Kendrick previously predicted that Bitcoin could reach $500,000 by the end of a potential second Trump term in 2028, maintaining a long-term positive stance despite market volatility.