Geoffrey Kendrick, a top crypto analyst at Standard Chartered, remains optimistic about the future of Bitcoin and Ether with significant price increases expected by the end of 2024.

Kendrick believes that recent market liquidations and geopolitical factors have created a cleaner market environment, setting the stage for potential price surges.

He points to Bitcoin's halving and the introduction of new ETFs as key factors driving the predicted surge in prices.

Standard Chartered's latest analysis forecasts Bitcoin to reach $150,000 by the year's end, citing structural changes in the market and the launch of new ETFs as reasons for optimism.

Geoffrey Kendrick, head of crypto research at Standard Chartered, has a positive outlook on Bitcoin's future despite recent market fluctuations. A significant liquidation event clearing leveraged positions has resulted in a cleaner market environment that could support price movements. The Bitcoin halving has also reduced supply, strengthening the case for price increases.

Recent geopolitical tensions, such as military actions between Iran and Israel, briefly impacted Bitcoin prices before rebounding. Kendrick believes that improving market conditions and reduced tensions could lead Bitcoin to new highs.

The growth of Bitcoin ETFs is also expected to contribute to rising prices, as they absorb billions from the market, reducing the available supply. While there have been delays in new ETF inflows in the US, global ETF developments in the UK and Hong Kong are seen positively.

Despite potential regulatory challenges and high US Treasury yields, Standard Chartered remains optimistic about Bitcoin's future. Kendrick's confidence in Bitcoin reaching new price levels is supported by market improvements and increased institutional adoption.

Looking ahead to the end of 2024, the combination of market improvements, halving effects, and ETF growth is expected to propel Bitcoin towards $150,000. Kendrick suggests considering re-engaging in Bitcoin investments as geopolitical and market conditions stabilize, leading to new highs in the cryptocurrency market.