JPMorgan Predicts Long-Term Bitcoin Price of $150K — Outlines Challenges Ahead

Global funding financial institution JPMorgan has predicted that the long-term worth of bitcoin will attain $150K whereas the honest worth of the cryptocurrency sits at $38K. “The greatest problem for bitcoin going ahead is its volatility and the growth and bust cycles that hinder additional institutional adoption,” JPMorgan’s analysts defined.

JPMorgan’s Bitcoin Price Prediction

Global funding financial institution JPMorgan has revealed its prediction for the long-term worth of bitcoin in addition to the cryptocurrency’s honest worth.

JPMorgan Chase & Co.’s strategists, led by Nikolaos Panigirtzoglou, wrote in a analysis observe printed Tuesday that their long-term theoretical goal for bitcoin is $150K, up from $146K predicted last year.

At this stage, bitcoin’s complete market worth can be on par with that of all gold held privately for funding functions, they defined.

The analysts clarified that bitcoin’s “honest worth” is round $38K, up from $35K estimated last year.

They calculated the coin’s honest worth primarily based on bitcoin being roughly 4 occasions as unstable as gold, including that if the volatility differential narrows to 3 occasions, then the honest worth of BTC would rise to $50K.

The JPMorgan strategists wrote:

The greatest problem for bitcoin going ahead is its volatility and the growth and bust cycles that hinder additional institutional adoption.

At the time of writing, the value of bitcoin is $43,855 primarily based on knowledge from Bitcoin.com Markets. BTC is up virtually 19% over the previous seven days and virtually 5% within the final 30 days.

Meanwhile, a JPMorgan shopper survey exhibits that almost all of respondents anticipate bitcoin’s worth to reach $60K or more this yr. The agency at the moment presents some crypto investments to shoppers.

Nonetheless, JPMorgan CEO Jamie Dimon continues to warn folks about investing in crypto, citing that the belongings have no intrinsic value. He referred to as bitcoin worthless in October final yr, questioning its restricted provide.

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