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19 April 2021

JP Morgan: Bitcoin's Decreasing Volatility Makes It More Appealing to Institutions, Revises BTC Price Prediction to $130K – Markets and Prices Bitcoin News

JP Morgan: Bitcoin's Decreasing Volatility Makes It More Appealing to Institutions, Revises BTC Price Prediction to $130K – Markets and Prices Bitcoin News


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Based on the current gold’s price of $1,700 per troy ounce, the bank says, “Mechanically, the bitcoin price would have to rise [to] $130,000, to match the total private sector investment in gold.” If bitcoin’s volatility continues to converge with gold’s volatility, the bank says its long-term price target would be $130K, adding:.

The investment bank previously predicted that the price of bitcoin would reach $146,000 in the long term, but lowered its estimate as the price of gold fell recently from a peak of $1,900 per troy ounce.

JPMorgan’s bitcoin price target is based on the firm’s expectation that bitcoin’s volatility will converge with gold’s?

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