Kendrick Says Crypto Winter Is Over, Keeps $100K BTC Target

Standard Chartered analyst Geoff Kendrick has declared the crypto winter over, maintaining year-end price targets of $100,000 for Bitcoin and $4,000 for Ethereum.

Kendrick, who heads digital assets research at Standard Chartered, said Bitcoin hit its cycle bottom at $59,000, marking what he considers the definitive end of the bear market. The call positions Standard Chartered as one of the most prominent institutional voices signaling a sustained recovery.

Why Kendrick Says Crypto Winter Is Over

The analyst’s declaration centers on Bitcoin’s $59,000 level as the cycle low. By identifying a concrete floor, Kendrick is framing the current market as an early-stage recovery rather than a temporary bounce within an ongoing downturn.

Multiple outlets confirmed the bank’s view that the crypto market has reached its cycle low. Standard Chartered has built a track record of high-profile price calls, and Kendrick’s latest assessment carries weight because it comes from a traditional finance institution rather than a crypto-native firm.

For investors who have weathered months of depressed prices, the timing of this call is notable. It arrives as the broader market continues to digest the effects of recent high-profile security incidents and ongoing institutional consolidation, including moves like Blockworks acquiring Messari at a steep discount to its 2022 valuation.

$100K BTC and $4K ETH Year-End Targets Unchanged

Perhaps more notable than the “winter is over” call is what Kendrick did not change: his year-end targets. The $100,000 Bitcoin target and $4,000 Ethereum target remain in place, unchanged from prior forecasts.

Keeping both targets steady signals confidence that the recovery is not a minor uptick but a move substantial enough to carry both assets to those levels by December. For Bitcoin, reaching $100,000 would represent a significant rally from the $59,000 floor he identified.

The $4,000 Ethereum target is similarly ambitious. Ethereum’s trajectory often diverges from Bitcoin’s, and maintaining a separate bullish target suggests Kendrick sees independent catalysts for ETH beyond simply tracking BTC’s momentum.

Institutional price forecasts like these matter for market sentiment, particularly as they can influence portfolio allocation decisions at funds that reference sell-side research. Investors considering their Bitcoin custody and self-custody strategies may find the bullish outlook relevant to positioning decisions heading into the second half of the year.

Disclaimer: This article is for informational purposes only and does not constitute financial or investment advice. Cryptocurrency and digital asset markets carry significant risk. Always do your own research before making decisions.