[Standard Chartered Bank: Bitcoin's Year-End $100,000 Target May Be Too Low, Recovery Could Accelerate After October 6] BlockBeats News, August 23, Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that Bitcoin could move toward its historical high of $126,000 by the end of the year, with the recovery potentially accelerating after October 6. He said: 'For the first time this year, there is a risk that my year-end $100,000 prediction may be too low.' Kendrick pointed out that the recent price increase has been primarily driven by short covering, but inflows into Bitcoin spot ETFs have also started to recover. The current low open interest may leave room for more investors to re-enter the market as prices rise. In February of this year, Kendrick had revised Standard Chartered Bank's year-end Bitcoin target from $150,000 to $100,000 and adjusted the Ethereum target from $7,500 to $4,000. At the time, he predicted that Bitcoin would drop to around $50,000 and Ethereum to around $1,400 before recovering during the remainder of the year. [Original Link]