Geoff Kendrick: Bitcoin's year-end price target may be raised to $126000

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Geoff Kendrick, Global Head of Digital Asset Research at Standard Chartered Bank, stated that the prediction of Bitcoin reaching $100000 by the end of the year is conservative, and there is a possibility that the market may challenge $126000 before the end of the year. Geoff Kendrick pointed out that the recent rise in Bitcoin has been driven by short clearing and inflows of spot Bitcoin ETF funds. With lower open interest contracts, more investors may enter the market. According to CoinTelegraph, Geoff Kendrick believes that the rebound momentum of Bitcoin will accelerate after October 6th.

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