Tygr Research "Bitcoin to reach $190,000 in Q3 this year"

JOON HYOUNG LEE

Summary

Tygr Research analyzed that the Bitcoin price could reach $190,000 in Q3 this year.
It cited expanded buying pressure from institutional investors and the U.S. 401K allowing cryptocurrency investments as the most important grounds.
Tygr Research projected price increases if current liquidity and adoption trends continue, while noting there may be short-term adjustments.

Bitcoin (BTC) price could rise to $190,000 in Q3 this year.

On the 28th, according to BeInCrypto, crypto research firm Tygr Research analyzed this in a recent report. Bitcoin is trading at the $113,000 level on CoinMarketCap as of that day. BeInCrypto said, "($190,000) is about 67% higher than current levels."

The expansion of institutional investor inflows and the U.S. retirement 401K allowing cryptocurrency investments are cited as bases for the bullish outlook. In particular, Tygr Research viewed that the market's center of gravity is shifting from retail investors to institutional investors. Tygr Research stated, "Buying pressure from institutional investors is overwhelming that of retail investors."

The U.S. executive order allowing 401K cryptocurrency investments could also be a catalyst for a sharp price rise. Tygr Research said, "If current liquidity and (Bitcoin) adoption trends continue, the fair value of Bitcoin in Q3 is $190,000," adding, "(however) there may be short-term corrections."

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