JPMorgan Predicts Bitcoin (BTC) To Revisit $45,000, Here’s Why
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In a recent note, JPMorgan strategists have made a prediction, suggesting that Bitcoin (BTC) could soar and revisit its former trading price of $45,000 due to the rising price of gold. This prediction comes amid Bitcoin’s price action of a blend of bulls and bears in the past week. Meanwhile, over the past 24 hours, BTC has seen a 2.1% gain with a current trading price above $26,000. The current surge comes after Bitcoin previously fall that dropped its price below its previously ranging market price of $28,000. Bitcoin And Gold: A Correlation Bitcoin and gold have often been regarded
There has been a notable rise in the production cost of flagship cryptocurrency Bitcoin (BTC). According to an estimate quoted by JPMorgan analysts, the figure has spiked to a total of $94,000, marking a 2.17% spike from the former estimate of $92,000. It is worth noting that this figure has…
JPMorgan, one of the largest US banks, predicts that Bitcoin could rise to as much as $170,000 in the next six to 12 months despite the current bear market. The bank’s strategists based this estimate on a volatility-adjusted valuation model that compares the cryptocurrency to gold. “Our volatility-adjusted Bitcoin-gold comparison…
JPMorgan analysts believe Bitcoin (BTC) could rise to about $170,000 in the next 6 to 12 months. According to the report, this prediction is based on a comparison of Bitcoin and gold, taking into account Bitcoin’s price fluctuations. The analysts think Bitcoin still has a lot of growth potential in…