Standard Chartered "$19 billion crash is a buying opportunity…Bitcoin to $200,000"

Standard Chartered said that despite a recent $19 billion liquidation event in the crypto market, Bitcoin (BTC) is expected to reach $200,000 by the end of the year.

On the 21st (local time), Cointelegraph reported that Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered, said, "This correction is only a temporary shock, and once the market stabilizes, investors will view it as another buying opportunity."

He added, "My official forecast is $200,000 by year-end," and said, "Even if President Trump's tariff remarks create noise in the market, if the U.S. Federal Reserve cuts interest rates as the market expects, there is a high possibility of rising to at least $150,000 even under conservative assumptions."

Bitcoin fell to a four-month low of $104,000 due to a large liquidation event over the weekend of October 10, but has since attempted a short-term rebound. Kendrick said, "It will take a few weeks for the aftermath of this liquidation to be fully resolved, but ultimately investors will recognize it as a re-accumulation zone."

He cited inflows into Bitcoin exchange-traded funds (ETFs) as the main driver of this year's Bitcoin rally. "There is no reason for ETF flows to stop. U.S. government shutdowns, the Fed's rate-cutting story, etc., are already playing out in the gold market, and this flow will carry over to Bitcoin," he explained.

In fact, in the ETF market, after four consecutive days of net outflows, there was a single-day net inflow of $477 million on October 21, showing a rebound.

Kendrick also added, "As gold prices hit record highs, Bitcoin's 'digital gold' narrative is gaining strength again," and "This will act as a factor that strengthens Bitcoin's safe-haven appeal."