JPMorgan, the largest US bank, believes Bitcoin (BTC) prices will not only mark a new historic maximum, but will also reach lands that exceed 150,000 USD this year.
Analysts at the American Banking company led by managing director Nikolaos Panigirtzoglou, BTC can rise to $165,000 If volatility on gold is adjusted.
They point out that the volatile ratio of Bitcoin to Gold is below 2.0. This means that Bitcoin consumes about 1.85 times the risk of capital as precious metals.
For analysts, the current market capitalization of BTC, which is equivalent to $2.3 billion, is Increases by 42% with private investment in goldthat figure would reach $6 billion. “This means the theoretical price of $165,000 Bitcoin,” they point out from the bank.
JP Morgan’s expert estimates are consistent with the vision of other analysts who consulted Cryptooticias, who believe BTC still has a green path to travel.
This is the case with Daniel Andre Peraes. BTC could reach USD 175,000 in this cycle. Another example is Emmanuel Fau Ares, which will surpass Bitcoin by the end of the year.
Certainly, expectations have started to be met given that Bitcoin experienced an interesting rebound last week, up 7.63% After moving on average from USD 111,000 to over USD 120,000. At the end of this report, the BTC is negotiated at USD 120,442, according to the Cryptootic Price Calculator.
The following graph provided by TradingView gives you a better evaluation of the sustained increase in Bitcoin over the past five days.
This week’s increase in BTC corresponds, among other things, to the impulse that provided Bitcoin ETFs from Wall Street. Political turmoil in America also had an impactremember that the federal government closures have been officially closed this week.
Analysts at JP Morgan noted that the trend of protecting itself from depreciation in Fíat currency has driven retail investors, increasing exposure to Bitcoin and Gold Citation Funds (ETFs) in the last quarter.
