JP Morgan Targets $146k as Long Term Bitcoin Price

By Abhimanyu Krishnan | News | Unpublished

JP Morgan analysts have placed a long term price target of $146k for Bitcoin, according to a Bloomberg report published on Jan. 5.

  • Led by Nikolaos Panigirtzoglo, the analysts said that the price target given could materialize as Bitcoin competes with gold
  • Gold’s private sector investment is approximately $3 trillion; at that value, Bitcoin would have a price of $146,000
  • But the analysts also feel that the price is unsustainable this year, even though analysts like PlanB believe it is possible
  • As for the $50,000-$100,000 price target, which Binance US CEO Catherine Coley thinks is possible, the analyst believes that Bitcoin will not sustain the price even with the arrival of institutions and more retail investors
  • Bloomberg analysts believe that $50,000 is a likely price level for Bitcoin in 2021
  • JP Morgan Chase, which CEO Jamie Dimon has criticized Bitcoin before, changed its view in Oct. 2020, saying that it was a strong alternative to gold

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Abhimanyu Krishnan
Abhimanyu Krishnan

Technophile, cryptocurrency enthusiast and journalist.


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