J.P. Morgan Supports Bitcoin: It Could Rise to $170,000 Within the Next Year
Bitcoin's price is volatile, but according to J.P. Morgan, there is no need for concern at the moment, and they expect Bitcoin to potentially increase by 84% within the next 6 to 12 months, as their model predicts that Bitcoin's trading trend will resemble that of gold.
A team of strategists led by Nikolaos Panigirtzoglou wrote in their latest client report: "Our volatility-adjusted comparison metric of Bitcoin to gold still indicates that Bitcoin's theoretical price is close to $170,000, suggesting that Bitcoin has significant upside potential within the next 6-12 months."
