Menu
Home
Advertise
Forums
Search forums
What's new
Unread posts
Latest activity
Earn Money
Review Website/Apps
Passive Income
Money apps
Paid Survey
Stock
Forex
Real estate
Paid to write
Social Media Monetization
Crytocurrency
Bitcoin (BTC)
Ethereum (ETH)
Crypto Exchange
Mining
Crypto Faucet / Airdrops
Binance
Business
Business strategy
Funding a business
Marketing
Digital Marketing
Social media marketing
Email marketing
Brand management
Personal Finance
Money Saving
Personal loan
Retirement
Debt help
Savings for Students
Tax relief
Insurance
Car Insurance
Life Insurance
Liability Insurance
Home Insurance
Health Insurance
Disability Insurance
FAQ
Log in
Register
What's new
Search
Search
Search titles only
By:
Search forums
Menu
Log in
Register
Install the app
Install
Home
Forums
Money Making Forums
Cryptocurrency Forums
JPMorgan Analysts: Bitcoin May Hit $45K with Rising Gold Prices
JavaScript is disabled. For a better experience, please enable JavaScript in your browser before proceeding.
You are using an out of date browser. It may not display this or other websites correctly.
You should upgrade or use an
alternative browser
.
Reply to thread
Message
[QUOTE="hoangutat02, post: 314532, member: 100175"] According to JPMorgan analysts, the current price of gold hovering around $2,000 per ounce indicates that the price of Bitcoin may soon rise to $45,000. The reason behind this projection is the positive correlation between these two assets, as they tend to fluctuate in tandem, and Bitcoin is considered by investors as an alternative to gold. The JPMorgan analysts, led by expert Nikolaos Panigirtzoglou, wrote in their recent analysis: "With the price of gold surpassing $2,000, the total value of gold in circulation outside of central banks is estimated to be around $3 trillion. This implies that Bitcoin should have a price of $45,000 under the assumption that the proportion of Bitcoin and gold remains balanced in private investors' portfolios." The prediction of $45,000 is also not overly optimistic. According to JPMorgan, BTC has limited room for growth because the upcoming Halving event in April-May 2024 will double the cost of mining one Bitcoin to $40,000. "In the past, the mining cost of Bitcoin has acted as a lower effective bound. After each Halving, we have witnessed a bull-run in the market, evidenced by the Halving events in 2016 and 2020." The Halving in 2024 will reduce the mining reward by half, from 6.25 BTC to 3.125 BTC. As for the second-largest cryptocurrency, Ethereum (ETH), JPMorgan analysts believe that ETH will continue to face selling pressure from now until mid-year or longer. Although the number of ETH on exchanges has reached its lowest point since 2016 due to the staking trend, there is still selling demand from some users. "Therefore, we believe Ethereum will underperform Bitcoin in the near future." Overall, JPMorgan maintains a cautious stance on digital assets due to regulatory crackdowns from the United States, the lack of banking-crypto networks, and the aftermath of the FTX collapse. At the time of reporting, BTC is trading around $26,700, and ETH around $1,830. [/QUOTE]
Insert quotes…
Verification
Post reply
Home
Forums
Money Making Forums
Cryptocurrency Forums
JPMorgan Analysts: Bitcoin May Hit $45K with Rising Gold Prices
Top