According to JPMorgan Chase analysts, the price of the world's largest cryptocurrency could reach $146,000 ifinstitutional investors will continue to add it to their portfolios.
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 suffered the most on Mondaybiggest daily loss since March, falling 17% on the day after hitting an all-time high of more than $34,000. Today, the price of Bitcoin has already exceeded the previous high and set a new record above $35,000.
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