Retail banking giant Standard Chartered has issued a new price prediction for Bitcoin, suggesting the cryptocurrency will reach $100,000 by the end of this year. The latest rally in Bitcoin and other cryptocurrencies has sparked fresh analysis on the market, with forecasts being raised for the first time in months. According to Standard Chartered’s Kendrick Geoffrey Bitcoin’s recent drawdown may have already established a floor for the current cycle.
Bitcoin’s price gained nearly 12% in the last 24 hours to hit an intra-day high of over $72,400 before paring gains to around $72,100, according to data from CoinGecko. Additionally, per CoinMarketCap, crypto market sentiment has crept out of the fear index, and the global market cap of cryptocurrency is up 9% in the last 24 hours. The Standard Chartered analyst believes that the bottom stage of Bitcoin’s chart is finally coming to a close, and the asset will slowly start creeping to its levels seen in Fall 2025.
“With the 12-month mark beyond the all-time high approaching, four-year cycle theorists will also agree that the low is in,” Kendrick wrote in an email to clients this week. The last time Bitcoin traded above $100,000 was in November 2025. In the last 365 days, BTC price has fallen 36%, after doubling in price in the previous year.
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The latest rally in Bitcoin and other cryptocurrencies followed the U.S. Treasury announcing plans to increase the size of buyback support and renewed attention on crypto legislation in Washington. US President Donald Trump urged Congress to pass legislation establishing clearer rules for the digital asset industry following a White House meeting with cryptocurrency executives on Wednesday. Trump specifically called for lawmakers to pass a “fair version of the Clarity Act,” which has faced delays in the Senate. Should the legislation officially pass, the crypto market could see a significant boost.
