JP Morgan Adjusts Its Bitcoin Price Prediction to $130,000
CoinEdition
Published Apr 03, 2021 05:19AM ET
Updated Apr 03, 2021 05:30AM ET
JP Morgan Adjusts Its Bitcoin Price Prediction to $130,000
- JP Morgan estimates that Bitcoin may reach $130,000 in the long-term.
- “Bitcoin price would have to rise $130,000 to match the total private sector investment in gold” JPM said.
- BTC can gain more professional investors now that it is less volatile.
JP Morgan (JPM) has set its new price target for Bitcoin. In a Thursday note covered by Business Insider, JPM says that Bitcoin may reach $130,000. Also, JPM thinks Bitcoin’s declining volatility makes it more reliable.
The American investment bank states that more institutional investors will be attracted to this crypto. According to JPM, expert investors will be comfortable seeking Bitcoin now that its price swings are less volatile.
In addition to that, JPM also predicts Bitcoin could reach $130,000 in the long-term if it matches the total private sector investment for gold. The banking giant further explained:
“The decline in the gold price since then has mechanically reduced the estima...This article was first published on coinquora.com
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Written By: CoinEdition
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