June 4 (Reuters) – Geoffrey Kendrick, the ​global head of digital assets research at Standard Chartered and one of the most vocal crypto ‌advocates, is sticking with his call for bitcoin to hit $100,000 by the end of the year as the bulk of the selling may be over.

The biggest crypto token has tumbled more than 12% in what Kendrick said was a “painful” week, after Michael Saylor’s Strategy (MSTR.O), the ​largest corporate holder of bitcoin, disclosed on Monday that it had sold, some of the holdings for the ​first time since 2022.

“The timing of the sale was a shame,” Kendrick wrote in a ⁠note to clients. “This week has been painful in crypto. There is really no other way of putting it.”

The cryptocurrency ​has lost more than…