Suppose you ask your family and friends about profitable investments. In that case, the chances are that most of them would tell you to invest in Bitcoin since the cryptocurrency has become more valuable than most of the assets and commodities in the world. Currently, its value keeps fluctuating between $62,000 and $63,000, and it also went up to an all-time high of $69,000 a few days ago.

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However, if you want to invest in Bitcoin, you have to know more than the worth of a single Bitcoin. Instead, you have to conduct market analysis and research key trends to predict whether the most popular cryptocurrency will increase or decrease in value. There have been several instances where people bought Bitcoin when its value was $1,000, and they have become Bitcoin millionaires today.

On the other hand, some people put their entire life’s savings into Bitcoin, only to see it plummet down by $5,000 or $10,000 in a matter of minutes. This is why people are wary of investing in Bitcoin or even parking their funds in the cryptocurrency for a long time.

At the same time, the global investment bank JPMorgan has been very optimistic and vocal about the Bitcoin forecast. It stands firm on its prediction that the Bitcoin price will go up to reach nearly twice its current value, or $146,000 to be precise. Although this sounds too good to be true, JPMorgan is banking on it and seems pretty confident.

PMorgan’s Report on the Bitcoin Price Prediction

While several financial experts and investment bankers are the doomsday prophets for Bitcoin, JPMorgan stands firm on its belief that Bitcoin’s value will soar in the long run and will also reach up to $146,000 in a matter of few years. In addition, the investment bank recently released a new report of its publication, where it discussed the potential of alternative investments.

Digital assets were the main focus of this report, and it argued that Bitcoin could go on to reach $146,000 while also competing with gold as an asset class. However, the market capitalization of Bitcoin stands at $575 billion, whereas the private sector investment in gold is nearly five times more than that. Therefore, the Bitcoin market volume will have to rise significantly before it can match that of gold, but the financial experts at JPMorgan are adamant that this will happen.

Earlier this year, the strategists at JPMorgan Chase & Co. also mentioned in their publication that the ‘crowding out’ of gold could be beneficial for Bitcoin in the long term. However, they also maintained that Bitcoin reaching $146,000 is a long-term target and is unsustainable soon. However, this statement came much before Bitcoin had even touched the $30,000 mark.

During this year alone, the world’s most widely used cryptocurrency managed to sprint past the $30,000, $40,000, $50,000, and even the $60,000 mark, which has restored the confidence of the financial experts over at JPMorgan that it will soar to new heights in a couple of years.

Just a few days ago, the Bitcoin value crawled very close to the $70,000 mark, and people all around the world watched with eager eyes and hopeful hearts to see if it would cross that line. Since then, the value has fallen by a few thousand dollars, but not too much.

According to the investment bank’s analyst, Nikolaos Panigirtzoglou, the price of Bitcoin will cross the $100,000 mark within a few years. Still, investors and experts should eye an all-time high of $73,000 for 2022, which is also something promising to look forward to.

According to Nikolaos, digital assets are climbing in value based on a multi-year projection, and it can’t view it with an investment perspective of only 12 months. There are several factors linked to the Bitcoin price determination. He also stated that investors are also eyeing their bitcoin investment as an inflation hedge amid increasing inflation in the past couple of months.

The primary reason why this idea has gained traction is since gold has failed to respond to the concerns raised regarding inflation. The financial analyst predicts that Bitcoin will continue to compete with gold, especially since millennials have liked cryptocurrencies and are investing their savings and earnings into Bitcoin.

Considering the size of the private investment made into gold, the crowding out strategy will also strengthen the Bitcoin value. However, the JPMorgan report also stipulates that its volatility has to reduce significantly for the Bitcoin price to climb up to six digits. This would entice investors to add Bitcoin to their investment portfolios and redirect funds from other ventures into it.

As compared to gold, Bitcoin is considered to be four times more volatile, and the volatility is dangerous for the Bitcoin value, which, in all fairness, shouldn’t be greater than $35,000 at this moment. Due to this decisiveness, Nikolaos Panigirtzoglou says that anything is possible, including the rise of the Bitcoin value above $146,000, as well as a drop below $30,000.

Due to the pandemic and the ensuing economic uncertainty that it brought, there has been an increased investment in digital assets, particularly cryptocurrency. This gives us confidence that this asset class will continue to climb with a year-by-year upward trend. As a result, asset managers, hedge funds, family businesses, and retail investors are actively looking to propagate this asset class and make it even more significant.

As you can see, the volatility and uncertainty around the Bitcoin value cause fear among investors. Although some have made billions of dollars out of mere thousands, others don’t want to put all their eggs in one basket. Nevertheless, it is believed that Bitcoin will continue to rise in value, and as more people start investing in it, its volatility will also reduce significantly.