JP Morgan analysts predict bitcoin rate rise to $ 146,000

Strategists at leading US bank JP Morgan compared Bitcoin (BTC) to traditional stores of value such as goldand came to the conclusion that in the long term, the price of bitcoin could reach $ 146,000.

Analysts led by Nikolaos PanigirtzogluBitcoin's current market capitalization of about $ 580 billion is forecast to grow 4.6 times. In this case, the price of the cryptocurrency itself will be 146 thousand dollars. According to Bloomberg, this will be in line with the total private sector investment in gold through ETFs, bullion and coins.

JP Morgan made a similar forecast in November2020, when analysts suggested that bitcoin could grow tenfold as it successfully competes with gold for institutional investors.

The new forecast adds that the displacement of gold by bitcoin will provide great potential for digital currency growth in the long term, and this will be a multi-year process:

«The theoretical Bitcoin price target above $146,000 should be considered a long-term target and therefore an unsustainable price target for this year.»

The gradual increase in the price of BTC will be associated withan increase in the number of institutional wallets and funds such as the Bitcoin Trust Grayscale. Today the firm broke another record for the value of assets under management, which reached $ 23 billion.

01/04/21 UPDATE: Net Assets Under Management, Holdings per Share, and Market Price per Share for our Investment Products.

Total AUM: $ 22.8 billion $ BTC $ BCH $ ETH $ ETC $ ZEN $ LTC $ XLM $ XRP $ ZEC pic.twitter.com/XLyZInUXsR

- Grayscale (@Grayscale) January 4, 2021

At press time, Bitcoin was trading 8% higher on the day at $ 31,985. After a sharp short-term drop in price yesterday, we are seeing a significant recovery today.

If we talk about weekly dynamics, then in 7 daysthe main cryptocurrency added 19%, other crypto assets from the Top 10 can boast even more serious results - Polkadot added 50% to its value, Ethereum - 44%.

The market is definitely bullish, so there is nothing incredible in the JPM forecast, we expect the price of BTC to rise to $ 146,000.

Rating of TOP-5 cryptocurrency exchanges

For those who need to buy safely and quicklyor sell cryptocurrency, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds in rubles and hryvnias.

The sites with the highest turnover are the most reliablefunds, for several years now the largest cryptocurrency exchange in the world has been Binance. The Binance platform is the most popular crypto exchange in the CIS, as it has maximum trading volumes and supports transfers in rubles from Visa/MasterCard bank cards and payment systems QIWI, Advcash, Payeer.

Especially for those new to the cryptocurrency market, we have prepared a detailed guide: How to buy bitcoin on a cryptocurrency exchange for rubles?

#	Cryptocurrency exchange	Official site	Site evaluation
1	Binance (Editor's Choice)	https://binance.com	9.7
2	Huobi	https://huobi.com	7.5
3	Exmo	https://exmo.me	6.9
4	Yobit	https://yobit.net	6.3
5	OKEx	https://okex.com	6.1

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

• Work reliability— 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 — futures, options, staking, etc.
• final grade– the average number of points for all indicators determines the place in the ranking.

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