Standard Chartered Adjusts Year-End Bitcoin Forecast – Could Rise Higher

I’ll admit, I’m often skeptical when it comes to crypto news—too many hype cycles, too many sudden crashes. But when even a traditional bank like Standard Chartered adjusts its Bitcoin forecast while remaining optimistic, it’s worth paying attention. Geoff Kendrick, Standard Chartered’s head of digital assets research, recently made it clear: the bank’s original target of $100,000 per Bitcoin might have been too conservative. Instead, Bitcoin could retest its previous all-time high of $126,000 by year-end—if conditions align, starting as early as October 6.
So why the adjustment? Kendrick points to a mix of positive factors: improving macroeconomic conditions, growing adoption, and Bitcoin’s increasing integration into traditional finance. What I find particularly compelling is how he interprets ETF inflows as a barometer for market sentiment. After a relatively quiet late summer and early autumn, spot Bitcoin ETFs have seen a surge in recent weeks, raking in $150 million in the first week of October alone. Total inflows since the start of the year now exceed $10 billion—a sign that institutional investors are increasingly viewing Bitcoin as a strategic asset class, not just a speculative bet.
Kendrick underscores that this isn’t about short-term trading but structural shifts. Asset managers and family offices a



re already embedding Bitcoin into their long-term portfolios. That’s encouraging, even if I still have concerns about regulation and technical robustness.
Then there’s the upcoming Bitcoin halving in April 2024—an event that always stirs excitement in crypto circles. Kendrick sees it as another price catalyst: fewer new coins, heightened scarcity, stronger demand—classic bull market dynamics.
Of course, not everyone is convinced. Some warn against drawing too many parallels to past bull runs, while others highlight regulatory risks or Bitcoin’s rising correlation with traditional markets. And yes, technical hurdles like high transaction fees during peak congestion can’t be ignored.
Yet despite the adjusted forecast, Standard Chartered remains bullish. The bank still sees significant upside potential, even if its outlook is now more flexible and no longer anchored to the $100,000 mark. Instead, Bitcoin could once again be heading toward $126,000—provided the conditions are right.
For investors, that means Bitcoin remains a high-risk, high-reward asset class. Those considering an entry should be fully aware of the risks and think long-term. The coming months will reveal whether these trends hold. For now, I’m keeping a close eye on developments—and perhaps another forecast update from the bank won’t be far behind.