Standard Chartered Sees Bitcoin Price Soaring to $100K by Year-End
Bitcoin's price hit $72,400 on Thursday morning after gaining nearly 12% in the last 24 hours. The apex cryptocurrency's latest rally followed the U.S. Treasury's announcement of plans to increase buyback support and President Donald Trump's push for clearer crypto regulations.
According to Standard Chartered's Geoffrey Kendrick, Bitcoin's recent drawdown may have already established a floor for the current cycle. Kendrick stated that the 54% peak-to-trough drawdown in the latest decline is the 'shallowest' four-year cycle so far.
Kendrick believes that investors should position themselves for a potential move to $100,000 by year-end 2026, citing the 12-month mark beyond the all-time high as a key indicator. The current cycle's low may already be in, Kendrick wrote, adding that 'four-year cycle theorists will agree that the low is in.'