January 23, 2021

JPMorgan: Bitcoin price to hit $ 146,000

JPMorgan: Bitcoin price to hit $ 146,000

According to analysts at JPMorgan Chase, the price of the world's largest cryptocurrency could reach $ 146,000 if institutional investors will continue to add it to their portfolios.

JPMorgan: Bitcoin price to hit $ 146,000

JPM strategists stated in a research note that Bitcoin will grow in the long term, especially if it maintains its position as an alternative to gold.

Such a prospect is real if the overall marketthe cost of the cryptocurrency will grow 4.6 times. The report clarifies that this process could drag on for several years and will depend on the adoption of Bitcoin by the millennial generation.

JP Morgan strategists have suggested that prices may continue to rise as the FOMO rises, but added that prices will be volatile at these levels.

The price of one BTC on Monday carried the mosta large daily loss since March, falling 17% on the day after hitting an all-time high of over $ 34,000. Today the bitcoin price has already exceeded the previous high and set a new record above $ 35,000.

Subscribe to ForkNews on Telegram to always be aware of the latest news from the world of cryptocurrencies