June 4 : 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 per cent in what Kendrick said was a “painful” week, after Michael Saylor’s Strategy, 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 half its value since hitting a…