JP Morgen analysts and the incredible Bitcoin forecast
- Does the correction lead to a new flight of highs?
- JP Morgen analysts: Bitcoin is bullish
Analysts at US Bank JP Morgan are convinced that Bitcoin could soon become as popular as gold. For this reason, the analysts have allowed themselves to be carried away with a forecast that is quite positive: Because JP Morgan is now saying that the Bitcoin price will probably rise by 350 percent and thus soon be at 146.000 US dollars.
In the study, which was published by the analysts, it is noted that there are more and more investors, like investors, who are taking their money out of the gold ETFs and putting them in the cryptocurrency Bitcoin. Since October 2020, more than 7 billion US dollars have been withdrawn from gold ETFs - the BitcoinTrust of the fund manager "Grayscale" has grown by more than 3 billion US dollars since October.
Will Bitcoin the new gold?
Furthermore, the gold price has also fallen: from over 2.000 US dollars / ounce to 1.900 US dollars / ounce - and that within a few weeks.
The so-called millennials play a special role. These are people who were born in the early 1980s or late 1990s. Because here people are increasingly relying on "digital gold" - that is, on Bitcoin. Traditional gold no longer has a place.
Bitcoin-News.One would like to note at this point that there is no guarantee that the Bitcoin price will actually reach the level forecast by JP Morgan. There can always be corrections - the users of eToro know this too, who saw on January 11th how the Bitcoin price suddenly went down.
There is no guarantee, but more and more analysts and financial experts are convinced that the Bitcoin price will rise above 100.000 US dollars in the foreseeable future. Maybe even in 2021? It remains exciting. Also with a view to the last correction, which caused the Bitcoin price to crash from 42.000 US dollars towards 30.000 US dollars. At the current time, the Bitcoin price is 35.000 US dollars.