JPMorgan maintained BTC price forecast at $146 000, but lowered it by half by 2022 year – Bits Media

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JPMorgan сохранил прогноз цены BTC на уровне $146 000, но понизил его вдвое на 2022 год - Bits Media

JPMorgan bank analyst predicts, that a decrease in volatility will enable Bitcoin to reach $73 000 in 2022 year, and in the long term and “promised” in January $146 000.

On Bitcoin.com
information has appeared, that JPMorgan analyst Nikolaos Panigirtzoglou (Nicholas Panigirtzoglou) still sticks to the forecast, what the price of bitcoin can reach $146 000 in the long term, as already stated in the bank's January report. However, a JPMorgan expert says, what for that, for the forecast to come true, Bitcoin volatility should drop significantly. This will enable institutional investors to place cryptocurrency in their investment portfolios with confidence..

He notes, that Bitcoin volatility is still four to five times higher, than gold. This is a serious problem, As a result, the “fair” value of Bitcoin is approximately $35 000. At the same time, the bank expert points out that, that Bitcoin volatility is decreasing, and what is the price in $73 000 dollars seems reasonable as a target for 2022 year. Panigirtzoglou pays attention, that the price of BTC is extremely unpredictable and is possible as it rises higher $146 000, and fall lower $30 000.

JPMorgan analyst said, that cryptocurrencies emerged victorious after the pandemic, when institutional investors, such as family offices, investment funds, insurance companies entered the cryptocurrency market following retail investors.

"There is no doubt about it, что криптовалюты и цифровые активы в более широком смысле являются новым классом активов и следовательно имеют многолетний структурный восходящий тренд».

Last month, JPMorgan analysts reported, that since the beginning of the year, more than $10 billion, and Bitcoin funds hold more than $20 billion. In the same month, Canadian entrepreneur Kevin O'Leary reported, that he has recently invested more in cryptocurrencies, than in gold. At the same time in 2019 year he counted, that investing in Bitcoin is pointless.