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October 3, 2022
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– Bitcoin, cryptocurrencies and blockchain technology.

One of the world’s largest banks is re-examining the current situation and the future of Bitcoin. JP Morgan experts, because this institution is mentioned, say that gold is threatened by the fact that Bitcoin is growing stronger and stronger. They also announced a target price for 1 BTC.

JP Morgan, gold and BTC

“Replacing gold as an” alternative “currency means big benefits for Bitcoin in the long run.” – wrote the strategists of JP Morgan on Monday. While it sounds great, it is worth adding that in their opinion, the ultimate success of the cryptocurrency will not happen soon “It is a long-term process”.

They further added that Bitcoin’s target price is above $ 146,000 and “Should be treated as a long-term goal”. What is the conclusion? The bank’s analysts suggest that it will not be able to reach this price level this year. In their opinion, the overall valuation of Bitcoin has become more difficult since the New Year, which can be fully understood, as we have already entered completely unknown areas, above the 2017 ATH.

“While we cannot rule out the possibility that the current speculative mania will continue, pushing Bitcoin’s price towards between $ 50,000 and $ 100,000, we believe this price level will prove unsustainable.”

– they added further.

Bitcoin rate

Today, 1 BTC pays about $ 31,500 on the stock exchanges, which translates into a 7% increase in price. on a 24-hour scale and 18 percent on a 7-day scale. The performance of Ether – the Ethereum cryptocurrency – looks even better, which costs $ 1,040. This means that the price of the ETH unit increased by 42 percent during the week. and 10 percent during the day.

Current course You can always check Bitcoin and other cryptocurrencies in the tabs: exchange rate Bitcoin and the cryptocurrency rate at . A place where you can buy BTC and more coins, include cryptocurrency exchange BitBay.net. If you do not have an account on BitBay yet, from this article you will learn how to efficiently create one: LINK.

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