Tiger Research predicts Bitcoin could hit $190,000 in Q3
Research firm Tiger Research has released a report predicting that Bitcoin’s price will reach $190,000 in the third quarter of this year, driven by a surge in institutional buying.
Other factors likely to support BTC’s rally include record-high global liquidity, rising demand for exchange-traded funds (ETFs), and newly expanded access to 401(k) retirement plans for retail investors and retirees.
Tiger Research estimates Bitcoin’s baseline price at $135,000, applying multipliers based on fundamental drivers and macroeconomic conditions to arrive at its $190,000 target.
Key factors and risks
Tiger Research analysts point to three primary factors influencing Bitcoin’s price:
- Global M2 money supply surpassing $90 trillion
- ETF adoption and corporate holdings amounting to 6% of total BTC supply
- The opening of cryptocurrency-enabled U.S. retirement accounts
However, the firm also acknowledges risks to its bullish outlook, including:
- Slower BTC purchasing volumes compared to last year
- Declining retail activity in the crypto market
- A lack of short-term catalysts for momentum growth
Despite these risks, the report concludes that Bitcoin remains undervalued, suggesting significant upside potential.
At the time of writing, Bitcoin was trading near $107,750, down 3.8% over the past 24 hours. Since the start of 2025, BTC is up 18%, while a year ago it was trading at 80% less than its current price.
As we wrote, Crypto market recap: Bitcoin stabilizes at $113K
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