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Bitcoin Could Reach $150,000, according to JPMorgan

JPMorgan, the largest bank in the United States, predicts that Bitcoin, the most valuable cryptocurrency by market capitalization, will reach $150,000 in the long run.

This is a small increase above the $146,000 goal set last year.

In order for Bitcoin to attain the aforementioned goal. That’s, the dominant cryptocurrency would have to match the private sector’s $2.7 trillion investment in gold.

On November 10, Bitcoin’s market capitalization reached $1.3 trillion.

At the same time, the bank claims that the flagship cryptocurrency’s fair value is now around $38,000. Of course, which is roughly 13% lower than where it is currently trading on major spot exchanges.

JPMorgan’s conclusion is based on the fact that Bitcoin’s volatility is four times greater than gold’s. To become more valuable, the crypto monarch would have to become significantly less volatile.

JPMorgan sees another bear market as the largest impediment to Bitcoin adoption:

“The biggest challenge for Bitcoin going forward is its volatility and the boom”

“and bust cycles that hinder further institutional adoption.”

On Jan. 24, Bitcoin plummeted to a multi-month low of $32,950 before staging a stunning rebound. Bitcoin reached a high of $45,501 on the Bitstamp platform on February 8, but the climb halted soon after.

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Crypto products and NFTs are unregulated and can be highly risky. There may be no regulatory recourse for any loss from such transactions. Crypto is not a legal tender and is subject to market risks. Readers are advised to seek expert advice and read offer document(s) along with related important literature on the subject carefully before making any kind of investment whatsoever. Crypto market predictions are speculative and any investment made shall be at the sole cost and risk of the readers.