Connect with us

Bitcoin

JPMorgan Forecasts Long-Term Bitcoin Prices of $150K –

JPMorgan Predicts Long-Term Bitcoin Price of $150K — Sees Challenges Going Forward

Global investment bank JPMorgan has predicted that the long-term price of bitcoin will reach $150K while the fair value of the cryptocurrency sits at $38K. “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,” JPMorgan’s analysts explained.


JPMorgan’s Bitcoin Price Prediction

The global investment bank JPMorgan has released its predictions for the long-term bitcoin price and cryptocurrency’s fair market value.

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

At this level, bitcoin’s market value would be equal to that of private gold for investment purposes.

The analysts clarified that bitcoin’s “fair value” is around $38K, up from $35K estimated last year.

They calculated the coin’s fair value based on bitcoin being roughly four times as volatile as gold, adding that if the volatility differential narrows to three times, then the fair value of BTC would rise to $50K.

The JPMorgan strategists wrote

The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption.

At the time of writing, the price of bitcoin is $43,855 based on data from Bitcoin.com Markets. BTC is up almost 19% over the past seven days and almost 5% in the last 30 days.

Meanwhile, a JPMorgan client survey shows that the majority of respondents expect bitcoin’s price to reach $60K or more this year. The firm currently offers some crypto investments to clients.

Nonetheless, JPMorgan CEO Jamie Dimon continues to warn people about investing in crypto, citing that the assets have no intrinsic value. He called bitcoin worthless in October last year, questioning its limited supply.

What do you think about JPMorgan’s bitcoin price prediction? Comment below.

Kevin Helms

A student of Austrian Economics, Kevin found Bitcoin in 2011 and has been an evangelist ever since. His interests include Bitcoin security, open source systems, network effects, and the intersection of cryptography and economics.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This article is for informational purposes only. This article is not intended to be a solicitation or offer to buy or sell any products or services. Bitcoin.com does not provide investment, tax, legal, or accounting advice. The author and the company are not responsible for any loss or damage caused or alleged caused by the use or reliance of any content, goods, or services mentioned in this article.

Read More

Bitcoin

Max Keiser Warns of Government Seizing Bitcoin in ETFs — Predicts 1987-Style Crash as BTC Rises to $500K

Bitcoin proponent Max Keiser has warned of potential government seizure of bitcoin held in spot exchange-traded funds (ETFs). He additionally issued a stark warning about a looming 1987-style crash, while simultaneously predicting that the bitcoin’s price will surge past $500,000. Max Keiser’s Crash and Bitcoin Seizure Warnings Bitcoin advocate Max Keiser expressed concerns about spot [……
Read More

Continue Reading

Bitcoin

Satoshi Correspondence Revealed by Witnesses in Legal Clash Against Craig Wright

In the unfolding lawsuit between the Crypto Open Patent Alliance (COPA) and Craig Wright, three key witnesses who had early interactions with Bitcoin’s creator, Satoshi Nakamoto, provided their testimonies. Among them were early Bitcoin developers Martti Malmi and Mike Hearn, as well as Adam Back, the creator of Hashcash…
Read More

Continue Reading

Bitcoin

Lumerin Announces New Integration With Portal DEX for Decentralized Bitcoin Mining and Cross-Chain Hashpower Trading

PRESS RELEASE. CHICAGO – Feb 22, 2024 – Lumerin, a decentralized Hashpower Marketplace built on Arbitrum that has built technology to make Bitcoin hashrate a liquid asset allowing for global access to peer-to-peer, decentralized hashrate trading, today announced a new integration with Portal, the first trust minimized…
Read More

Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.