Author Topic: #Bitcoin Price May Reach $146,000 Over Long Term, Says JP Morgan  (Read 453 times)

0 Members and 1 Guest are viewing this topic.

Offline bitmexsignalsTopic starter

  • Hero Member
  • ****
  • Joined: Apr 2019
  • Posts: 646
  • Karma: +0/-0
  • HODL!
    • View Profile

your ads here



     
            Free Bitmex BOT - www.t.me/freebitmexsignals




Free Bitmex ByBit Scalping bot which trades automatically in your account & Long Short Bitmex ByBit signals



While Bitcoin’s volatility and speculative mania might push its price higher than $100,000, such levels “would prove unsustainable,” said JPMorgan’s strategists.


In brief


Bitcoin's price can reach $146,000 or above—but it will take some time, said JPMorgan's strategists.


At this price, Bitcoin will match private investments in gold.



While the levels of $50,000–$100,000 are possible, they are likely "unsustainable," the experts noted.



It’s possible that Bitcoin’s price could go up to $146,000 or higher in the long term—but it’s unlikely to happen this year, JP Morgan Chase & Co quantitative strategist Nikolaos Panigirtzoglou wrote in a recent note, according to Bloomberg.

“A crowding out of gold as an ‘alternative’ currency implies big upside for Bitcoin over the long term,” he said in the note, but “a convergence in volatilities between Bitcoin and gold is unlikely to happen quickly and is in our mind a multiyear process. This implies that the above-$146,000 theoretical Bitcoin price target should be considered as a long-term target, and thus an unsustainable price target for this year.”

Per the letter, Bitcoin will have to reach $146,000 to match the levels of private investments in gold—via various exchange-traded funds or bars and coins. But the crypto’s volatility can play a major role in this process.

“The valuation and position backdrop has become a lot more challenging for Bitcoin at the beginning of the New Year,” said the letter. “While we cannot exclude the possibility that the current speculative mania will propagate further pushing the Bitcoin price up toward the consensus region of between $50,000-$100,000, we believe that such price levels would prove unsustainable.”

As Decrypt reported, JPMorgan’s strategists have previously predicted that Bitcoin will hurt gold’s value in the coming years.








 

Bitcoin Price in 2018 will Reach $60,000 before Crash into 1000$

Started by bitcointraders

Replies: 0
Views: 2103
Last post December 07, 2017, 08:23:04 PM
by bitcointraders
Bitcoin Price to Reach $60,000 Before Crashing to $1,000 in 2018

Started by Marvonbitcoin

Replies: 0
Views: 1163
Last post December 09, 2017, 09:53:54 AM
by Marvonbitcoin
Bitcoin Price could reach $100,000 before the end of 2018

Started by bitcointraders

Replies: 0
Views: 1569
Last post December 11, 2017, 07:24:09 PM
by bitcointraders
Can anything stop bitcoin? Price above $8,000

Started by Marvonbitcoin

Replies: 0
Views: 2619
Last post November 24, 2017, 08:08:01 PM
by Marvonbitcoin
Why Bitcoin Is A Long-Term Investment

Started by Marvonbitcoin

Replies: 0
Views: 1144
Last post December 06, 2017, 12:33:45 PM
by Marvonbitcoin