Here are the prospects of TD Cowen as to the price of bitcoin by the end of 2025. Three scenarios are advanced.
In short
- TD Cowen timidly targets $ 128,000 in its central scenario.
- A more bullish scenario is possible if Strategy continues on its momentum.
Bitcoin: an increase fueled by large artillery
TD Cowen forecasts for the Bitcoin Prize by December 2025 are cautious. In its central scenario, the small investment bank envisages a bitcoin at $ 128,000, mainly carried by the institutional.
Indeed, individual investors remain in absent subscribers if we are to believe the low transaction costs, the slum of the daily number of active addresses or the number of wallets downloads.
In question, the growing popularity of Bitcoin ETFs which generally only make one transaction per day. Since the beginning of June, These ETFs attracted nearly $ 5 billionor $ 302 million a day. This represents six times the natural offer of around 450 BTC per day (~ $ 50 million).
This is a break with what we observed before 2022, when the rise in bitcoin was trembling, mainly fueled by short-term speculation.
Strategy, factor X
In the Haussier scenario, TD Cowen sees Bitcoin reaching $ 155,000 in the event of regulatory advances (Genius Act, Clarity Act). However, the lowering scenario warns against a fall at $ 55,000 … The bank cites macroeconomic risks such as increases in interest or recession.
A key player in this forecast is a strategy, the largest Bitcoins holder with more than 601,000 BTC accumulated at an average price of $ 71,000. Strategy intends to lift a trifle of $ 84 billion in order to accumulate 900,000 BTC by 2027.
However, the CEO of Strategy, Michael Saylor, has never disappointed so far. “I will continue to buy at the highest, forever”he likes to say. Here are the top 100 companies holding the most bitcoins:
Other investment companies are more optimistic and target $ 200,000. This is the case of standard charter, Bernstein and Bitwise. Vaneck and Galaxy Digital expect $ 180,000. Fundstrat for its part aims at $ 250,000 if the US government takes action by strengthening its Bitcoin Strategic Reserve.
The concrete actions of the United States government could be the key catalyst for a spicy Bull Run that extended until 2030.
Don't miss our article: Bitcoin: The Bitwise CEO aims for $ 1,000,000.
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