According to CoinMeta, Geoff Kendrick, the head of global digital asset research for Standard Chartered, stated that a year-end target of $100,000 for Bitcoin might be too low, and predicted that Bitcoin could move towards its historical high of $126,000 after October 6th. Kendrick pointed out that the recent rebound was mainly due to short sellers closing their positions, and the inflow of funds into Bitcoin ETF has also begun to recover. He mentioned that the low number of open contracts might provide room for more investors to return. In a report on February 12th, Kendrick lowered the year-end target for Bitcoin of Standard Chartered to $100,000 and predicted that Bitcoin would fall back to $50,000 within the year.