#JPMorganSaysBTCOverGold
JPMorgan: Bitcoin could fall $266,000 - it becomes a gainer for gold
Analysts from one of the largest banks in the world, JPMorgan, predict that in the long term, the price of Bitcoin could soar to $266,000. Given the ongoing pressure on the market, experts believe that the first cryptocurrency is fading. a serious competitor to gold as a dry asset.
Bitcoin vs Gold
Given these difficult times, JPMorgan is highlighting Bitcoin as an asset that is evolving.
The volatility ratio between Bitcoin and gold fell to 1.5, a historical low. BTC is likely to be attractive for institutional investors who are looking for stability in the country's financial markets.
If the capitalization of Bitcoin is compared with the amount of private investment in gold (which is estimated at $8 trillion without adjusting the reserves of central banks), the price of one coin could become $266,000.
“While the goal is “unrealistic” for the current market, the defense demonstrates the potential of Bitcoin as negative sentiment on the market changes to positive,” JPMorgan said.
Compatibility with video boot
It is worth noting that the current price of Bitcoin (nearly $71,000) has fallen below the market value of the currency, which the bank estimates at $87,000. Historically, the price of the currency has acted as a supporter.
If the exchange rate drops below the price between now and then, ineffective miners will begin to leave the market, which will lead to a decrease in the complexity of the market and profitability.
