🏛 JPMORGAN ESTABLISHES LONG-TERM TARGET FOR BITCOIN AT $240,000🚀🚀
JPMorgan analysts projected that Bitcoin could reach $240,000 in the long term, marking a fundamental shift in how the bank views cryptocurrency markets as they transition from retail speculation to institution-backed trading.
The forecast comes as Bitcoin stabilized around $87,000 at the end of November after falling from its October peak of $126,000. The bank's analysts stated that cryptocurrency prices are now influenced more by macroeconomic forces than by Bitcoin's historically predictable four-year halving cycle.
"Cryptocurrencies are moving away from resembling a venture capital-style ecosystem to a typical tradable macro asset class, supported by institutional liquidity rather than retail speculation," JPMorgan said in a recent note. According to The Street, a speaker at a JPMorgan event suggested that Bitcoin could "potentially reach $240,000 in the long term," framing it as a multi-year growth strategy.
