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JP Morgan Raises It’s Bitcoin Price Target To $146,000

JP Morgan has been sending us conflicting signals about its views on Bitcoin’s pricing. They previously stated that the fair value of BTC is $35k, and now they claim that BTC will reach $146k. The corporation had previously set a high price objective, but they later lowered it. And we should know why, as JP Morgan raises its Bitcoin price target to $146,000. According to them, if BTC’s volatility falls and more institutional investors flock to BTC instead of Gold, the price of BTC might skyrocket.

 

The organization just published a report on its focus on alternative investing choices. This included some of our favourite digital assets, such as BTC and ETH. According to JP Morgan’s analyst, BTC has a short-term price objective of $73k and a long-term price target of $146k. Every 2-3 months, the firm intends to provide the same report. It will be fascinating to watch if they maintain their price objective.

 

JPMorgan also provided an important perspective on why the price activity may be modest at this time. According to them, the current pricing point is an undesirable entry point, and I have to agree with them. Investors are still coming in, albeit at a snail’s pace.

The good news is that gold had failed to provide inflation protection when it was most needed. As a result, investors are shifting their attention to Bitcoin.

The volatility of Bitcoin, according to JP Morgan, is a major issue. This must be altered in order for it to appreciate in value. BTC’s price is so volatile right now that no one can forecast if it will hit $100k or $30k in the near future.

Bitcoin ETFs have finally been approved in the United States after a long wait. Yes, it’s a futures ETF for now, and we’re all waiting for a spot one, but it’s a start. Bitcoin, like Gold since the first ETF was created in 2004, might continue on a parabolic bull run for years if history repeats itself. This makes me even more bullish on Bitcoin in the long run, and certainly, when you zoom out the chart, short-term highs and lows are meaningless.