A report published by investment bank TD Cowen stated that as adoption increases and demand grows, the price of Bitcoin BTC 0.09% may rise by 127%, breaking the previous all-time high (nearly $70,000).
On the other hand, if regulators continue to clamp down on the asset class, the report predicts that downside conditions will lead to another plunge in BTC prices, possibly back to $15,000.
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The report identified several important factors as potential drivers that could have a positive impact on the value of Bitcoin.
These factors include possible SEC approval of a spot Bitcoin ETF, progress in Lightning Network development, possible FASB/GAAP accounting changes to the treatment of Bitcoin holdings, and the upcoming Bitcoin halving.
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