Geoffrey Kendrick, the digital asset research lead at
Standard Chartered, has reiterated his
projection for Bitcoin’s (BTC) price to reach
$200,000 by the close of the year. He
confirmed this forecast on October 2nd.
Kendrick suggests that new capital flowing into Bitcoin ETFs coupled with the potential impact of a U.S. government
shutdown could provide the momentum needed for the cryptocurrency to attain even greater heights in the coming weeks.
In a recent communication to his clients, Kendrick stated that Bitcoin is well-positioned to surpass its previous peak
value in a matter of days. He believes a price point of $135,000 could be reached within the next few weeks, slightly
later than specified in his
earlier predictions
.
Kendrick pointed out that Bitcoin ETFs have accumulated nearly $50 billion in net inflows so far, with three months
remaining in the current year.
Shutdown as a Driving Force
Kendrick argues that the effects of the current shutdown situation carry greater weight than during the period of
2018-2019, when Bitcoin exhibited minimal response.
He observed that Bitcoin’s trading patterns this year have closely mirrored “U.S. government risks,” specifically as
indicated by Treasury term premiums. This correlation positions Bitcoin to potentially benefit from increased political
stalemate.
The prediction platform Polymarket shows a 60% chance of the shutdown extending for 10 to 29 days, a timeframe that,
according to Kendrick, could likely boost Bitcoin prices during that duration.
ETF Activity and Market Dynamics
Although gold ETFs have recently seen higher inflows than Bitcoin ETFs, Kendrick anticipates that this trend will soon
reverse, favoring the digital currency. Inflows have been
increasing in recent weeks
and are expected to continue.
According to Kendrick, the increasing demand for Bitcoin ETFs, alongside Bitcoin’s increasing correlation with
indicators of macroeconomic risk, solidifies its position as an increasingly established financial asset.
He stated:
“I would anticipate a minimum of an additional $20 billion by the end of the year, a figure that would make my
$200,000 year-end forecast attainable.”
Bitcoin Market Data
As of 8:55 pm UTC on Oct. 3, 2025,
Bitcoin holds the #1 rank by market
capitalization and its price has
increased by 1.63% over the previous 24 hours. Bitcoin’s market cap
is currently at $2.45 trillion with a 24-hour trading volume of $85.8 billion.
Explore more about Bitcoin ›
Crypto Market Summary
As of 8:55 pm UTC on Oct. 3, 2025, the total value of the crypto market stands at
$4.21 trillion with a 24-hour volume of $222.89 billion. Bitcoin’s dominance in the
market is currently at 58.14%.
Discover more about the crypto market ›