BTC rate exceeded $ 60,000, JPMorgan predicts growth to $ 130,000

Bitcoin rose to $60,200 early Friday morning. This is the highest point since March 14, that is, since the lastan all-time high of about $ 62,000.

Over the past three weeks, Bitcoin has already committedseveral attempts to break above a psychologically significant level, but all of them ended in failure, and on March 25, the cryptocurrency price rolled back to local lows of about $ 50,000. The prospects for today's attempt are also unclear - the market continues to fluctuate, increasing the volume of liquidations in the process.

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The volume of liquidations by the cryptocurrency market per dayis $ 800 million, and over the past four hours, short positions were mainly liquidated, while in general, long positions were liquidated during the day.

Yesterday, the issuer of the stablecoin Tether one-timeissued 1.2 billion USDT. As explained by Tether CTO Paolo Ardoino, these tokens were created on the Tron blockchain and are intended to replenish the company's reserves in order to meet customer requests in the next segment.

JPMorgan posted a note on Thursday in whichdrew attention to the following fact: the decrease in bitcoin price volatility over the past weeks makes it more attractive for institutional investors looking for assets with low correlation to diversify their portfolios. The acceleration in the spread of cryptocurrency among such investors "is likely to be due to recent changes in the correlation structure of bitcoin relative to traditional asset classes," the bank explained.

According to analysts, from a management perspectiverisks, high volatility "acts as a constraining factor for further institutional expansion." Volatility has experienced a tangible rise since 2020, but is now normalizing, which will help "revive" the interest of professional investors in the inclusion of cryptocurrency in portfolios, the bank said.

Analysts also note that since mid-October, asset outflows from gold-based funds have been $ 20 billion, while inflows to bitcoin funds have been $ 7 billion:

"Given how large the financial investment in gold is, any such outflow to an 'alternative' currency would imply a massive rise in bitcoin over the long term."

As the next target, the authors of the JPMorgan reportthey call the $ 130,000 mark, to reach which the cryptocurrency rate must rise by another 120%. Interestingly, they recently set a target of $ 146,000, but adjusted it to reflect the pullback of the gold price from the $ 1,900 an ounce peak. It is noted that the forecast is based on expectations of convergence in the volatility of bitcoin and gold. There is still a big difference between the indicators: the realized volatility for three months is 86% and 16%, respectively.

“Mechanically, bitcoin must rise to $ 130,000 to match the total private sector investment in gold,– JPMorgan writes, based on the current gold price of $1,700 per ounce.

The convergence of volatilities is unlikely to happen quickly and will most likely take many years. This suggests that the above theoretical target for Bitcoin of $ 130,000 should be considered long term. "

Where is it more profitable to buy bitcoin? TOP-5 exchanges

For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.

The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.

Especially for beginners, we have prepared a detailed guide: How to buy bitcoin on a crypto exchange for rubles?

Rating of cryptocurrency exchanges:

#	Exchange:	Website:	Rating:
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Bybit	https://bybit.com	7.5
3	OKEx	https://okex.com	7.1
4	Exmo	https://exmo.me	6.9
5	Huobi	https://huobi.com	6.5

The criteria by which the rating is set in our rating of crypto-exchanges:

• Work reliability&#8212; stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
• Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
• Feedback and support– we analyze user reviews and the quality of technical support.
• Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
• Platform Features– availability of additional features &#8212; futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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