Standard Chartered Forecasts Bitcoin Will Retest All-Time High

British bank Standard Chartered ($STAN) predicts Bitcoin (CRYPTO: $BTC) will revisit its highest price ever of $126,000 U.S. by the end of the year. This optimistic projection follows Bitcoin's surge of 23% over the past week, reaching $77,300 U.S. on August 21. Analyst Geoff Kendrick has revised his earlier forecast to target $100,000 U.S. by year's end.

Canadian tech firm MEXC sees its revenue increase by 92% as government funding boosts its profitability. On social media platform X, discussions about stablecoin payments gain traction, while the cryptocurrency exchange MEXC confirms that user assets are fully backed with reserve ratios above 100%. In the U.S., social media figure Donald Trump supports the path for hyperliquid in the CFTC, and the cryptocurrency exchange MEXC begins trading Ondo tokenized stock.

Moderna (MRNAON) expands U.S. biotech exposure through its listing on MEXC. Kendrick believes the recent Bitcoin rally, driven by short liquidations and inflows into U.S. spot Bitcoin ETFs, has made the $126,000 U.S. record more attainable. The analyst notes that Bitcoin has exited the $60,000 U.S. to $65,000 U.S. range it had been trapped in for months.

For the first time this year, Kendrick's year-end forecast of $100,000 U.S. may be underestimated, signaling a potential upward adjustment. Kendrick suggests Bitcoin could climb back to its prior record before the year ends, with the rebound accelerating after October 6, the date Bitcoin hit its previous all-time high. Despite this bullish outlook, Standard Chartered has not officially replaced its $100,000 U.S. year-end forecast with a $126,000 U.S. target; instead, Kendrick views the all-time high as a milestone Bitcoin may reach if the current recovery gains further momentum.