JPMorgan says Bitcoin price will hit $150,000

According to JPMorgan strategist Nikolaos Panigirtzoglou, who issued an investors note published by Bloomberg, Bitcoin's price will surpass US$150,000 in the long run.

Bitcoin, the most valuable cryptocurrency by market capitalization, is now selling at around $44,830, but JPMorgan believes it is worth around $38,000, roughly 15% less than its current trading price.

JPMorgan's long-term Bitcoin objective is higher than its projection a year ago, which was $146,000.

JPMorgan's research might be interpreted as a cautionary note for short-term investors hoping to profit from the burgeoning digital economy.

Bitcoin's volatility, according to JPMorgan, is four times that of gold, and it needs to be significantly less unpredictable in order to become more valued.

The fact that Bitcoin's price surged by 138% in a year to reach an all-time high of $68,789 from $28,893, before reverting to its present price, demonstrates its volatility.

According to CoinMarketCap, Bitcoin is trading at $45,921 at the writing time. The largest crypto by market cap is up by 2.86% in the last 24 hours.