Bitcoin Price Prediction: Standard Chartered Analyst Geoff Kendrick Says BTC Could Rocket to $130,000 Within Two Months

Geoff Kendrick, the head of digital asset research at Standard Chartered, has predicted that the price of Bitcoin could rocket to $130,000 within the next two months.

Standard Chartered (OTC: SCBFF) digital asset research head Geoff Kendrick has predicted that the price of Bitcoin could skyrocket to $130,000 over the next two months.

In his latest note, Kendrick said he expects the flagship cryptocurrency to begin testing a new record high imminently.

Bitcoin hit a peak of $108,786 10 days ago, according to CoinGecko. The leading cryptocurrency last traded at $105,003, having hit an intraday high of $105,547 earlier on Thursday.

The analyst highlighted the SEC's decision to drop SAB 121 (Staff Accounting Bulletin 121) as a key bullish catalyst that could push the price of the leading cryptocurrency higher.

The interpretive guidance, which was introduced during Gary Gensler's time at the SEC, made it much harder for large banking institutions to get into crypto custody, as third-party digital assets had to be recorded as a liability on their balance sheets.

However, the new pro-crypto administration wasted no time rescinding SAB 121, and this could lead to greater institutional adoption, as large banking institutions are no longer subject to the above-mentioned requirement.

Kendrick, therefore, expects institutional flows to pick up, which could help push the price of Bitcoin higher.

Earlier this month, Standard Chartered predicted that the price of Bitcoin could hit $200,000 by the end of the year.

The bank also urged investors to buy the dip earlier this week, after the price of the leading cryptocurrency fell below $100,000 on Monday amid a DeepSeek-related sell-off that hit U.S. equities.