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18 April 2021

JPMorgan adjusts its long-term Bitcoin price target to $130,000 | CryptoSlate

JPMorgan adjusts its long-term Bitcoin price target to $130,000 | CryptoSlate


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“Considering how big the financial investment into gold is, any such crowding out of gold as an ‘alternative’ currency implies big upside for Bitcoin over the long term,” JPMorgan said, adding, “Mechanically, the Bitcoin price would have to rise [to] $130,000, to match the total private sector investment in gold.”.

“The decline in the gold price since then has mechanically reduced the estimated upside potential for Bitcoin as a digital alternative to traditional gold, assuming an equalization with the portfolio weight of gold,” the researchers noted.

Notably, their long-term price target for Bitcoin is based on the notion that BTC’s volatility would continue to decrease and will ultimately “converge” with gold’s at some point.

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