Tiger Research has issued a new report that forecasts the price of %Bitcoin (CRYPTO: $BTC) will reach $190,000 U.S. in this year's third quarter, driven by a wave of buying among institutional investors.
Other catalysts likely to drive the price of BTC higher include record global liquidity, exchange-traded fund (ETF) demand, and new 401(k) access among retail investors and retirees.
Tiger Research gives Bitcoin a base price of $135,000 U.S. and then layers on multipliers for fundamentals and macroeconomic conditions to reach the $190,000 U.S. target.
The outlook from Tiger research is about 70% higher than the $111,000 U.S. that Bitcoin is currently trading at.
Analysts at Tiger see three key drivers for Bitcoin's price: the M2 money supply exceeding $90 trillion U.S., ETF and corporate accumulation accounting for 6% of Bitcoin's supply, and the opening of U.S. retirement accounts to cryptocurrencies.
Still, Tiger Research acknowledges that there are risks to its bullish forecast. These include a decline in BTC purchases compared to last year, waning retail participation in crypto, and a lack of near-term catalysts to build momentum.
However, Tiger Research concludes in its report that BTC, while hot currently, is not yet overexposed and therefore has more room to run. Bitcoin has gained 18% so far in 2025.
COMTEX_468383449/2848/2025-08-29T11:00:53