Wall Street Large Investment Bank "Bitcoin Going to $140,000" Bold Declaration

▲ Bitcoin (BTC), Dollar (USD)/ChatGPT generated image ©

The market's attention is focused on a bold forecast from a major Wall Street investment bank that Bitcoin (BTC), the leading cryptocurrency struggling after plummeting by nearly half from its peak, could nearly double and break past $140,000 within this year.

According to the investment media outlet The Motley Fool on April 18 (local time), TD Cowen, an investment bank and subsidiary of Toronto Dominion Bank, presented a groundbreaking target price, stating that Bitcoin will reach $140,000 by the end of 2026. Currently, Bitcoin is hovering around $73,000, a 42% drop from its all-time high of $126,000 recorded last October, and is struggling to break through the $75,000 resistance level, but Wall Street's optimism remains alive.

While the claim that its value will double in just nine months might sound far-fetched, it's not an impossible scenario given Bitcoin's past trajectory. Bitcoin has more than doubled in value with remarkable regularity, surging 157% in 2023 and 125% in 2024. TD Cowen is fostering expectations that Bitcoin will regain its status as digital gold, analyzing that this figure is entirely achievable if it establishes itself as a long-term store of value that investors seek by 2026.

Data from online prediction markets also offers an interesting perspective. On Kalshi and Polymarket, where active betting on future prices takes place, the probability of Bitcoin reaching $140,000 this year is currently set at 11%. While not an absolutely high figure, it indicates that market participants are seriously considering the possibility of Bitcoin doubling in value at roughly a 1 in 10 chance.

Opinions among experts are divided regarding the optimal investment approach. TD Cowen initiated coverage of Bitcoin cryptocurrency financial strategy companies and recommended investing in these companies as a way to outperform Bitcoin's own returns. Conversely, the media outlet pointed out that many financial strategy companies are trading at a discount to the value of the Bitcoin they hold, arguing that direct purchases through exchanges or indirect investments via spot cryptocurrency ETFs are much smarter strategies.

Currently, Bitcoin is trading at a significant discount compared to its price just six months ago, which could make it an attractive entry point. However, the risk of a further substantial price drop before a full recovery cannot be ruled out. The media warns that if one plans to buy now, they must be prepared for the extreme volatility and arduous journey ahead.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*