The bank that told you $50,000 just admitted $100,000 is "too low."
Same bank. Same man who wrote the report. In February, Standard Chartered cut its year-end Bitcoin target from $150,000 to $100,000 and told the world to expect a crash to $50,000. This week, with Bitcoin glued to ~$77K after a 24% rip, the man who wrote that prediction says even his new number might be too low. You’re not crazy. They flip-flopped.
The receipt
- On Friday, Geoff Kendrick — Standard Chartered’s global head of digital asset research — wrote: "For the first time this year there is now a risk my end year forecast (of USD100k) is too low."
- In February, the same desk cut the target from $150,000 to $100,000 and told clients to expect Bitcoin to fall to around $50,000 before recovering.
- Now Kendrick says Bitcoin "may move toward its all-time high of $126,000 before the end of the year," with the recovery possibly accelerating after October 6.
- What’s driving it? He says the rally has been driven largely by short liquidations — $1.4 billion in shorts getting steamrolled — plus spot ETF inflows starting to recover.
- At writing time, Bitcoin trades near $77,000, up more than 20% in seven days (CoinGecko).
Why this matters — and who it’s for
A bank’s price target was never a prediction. It’s a marketing document passed off as research. When the target is low, they’re managing your fear so you sell. When it’s high, they’re managing your greed so you buy. Either way, you’re trading — they’re collecting fees.
Bitcoin doesn’t change when a spreadsheet changes. The network doesn’t care what Standard Chartered’s desk thinks. The only thing that changed here is their mood — and they want to make sure you end up on the wrong side of their mood swings.
The Love Is Bitcoin takeaway
This is the easiest tell on Wall Street: watch the target, don’t follow it. When a bank that told you $50K is suddenly printing "too low," that’s not enlightenment — it’s an order signal for their own book.
You don’t need a bank to tell you what Bitcoin is. You need to learn how Bitcoin wallets work and understand why Bitcoin ETFs aren’t the same as holding the keys — because custodial risk doesn’t take a holiday just because the banks got bullish. Remember the Zonda cold-wallet crisis.
And if you’re going to buy the asset the banks keep guessing about, skip the middleman. Stack with hardware-grade self-custody and use the coupon: LOVEISBITCOIN → https://loveisbitcoin.com/bull
Final thought
Standard Chartered told you $50,000 when it was scared and "too low" when it got greedy again. If they missed by $27,000+ the first time, why would you let the next guess they print decide what you do with YOUR coins?
This article is for education only and is not financial advice.
THE BANK THAT TOLD YOU $50K NOW SAYS $100K IS "TOO LOW"
