According to the latest research report released by JPMorgan Chase, Bitcoin has shown a significant undervaluation compared to gold.
Based on its market value comparison analysis with gold, the bank proposed a long-term target price of $165,000 for BTC.
Analysts pointed out that Bitcoin's performance this year has been far inferior to gold, and even achieving a strong 50% "catch-up" rally would still be within a reasonable valuation range. This view also reflects the anxious mentality of some current market investors.