JPMorgan Predicts Long-Term Bitcoin Price of $150K — Outlines Challenges Ahead

Global investment bank JPMorgan has predicted that the long-term price of bitcoin will reach $150K while the fair value of the cryptocurrency sits at $38K. “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,” JPMorgan’s analysts explained.Global investment bank JPMorgan has revealed its prediction for the long-term price of bitcoin as well as the cryptocurrency’s fair value.JPMorgan Chase & Co.’s strategists, led by Nikolaos Panigirtzoglou, wrote in a research note published Tuesday that their long-term theoretical target for bitcoin is $150K, up from $146K predicted last year.At this level, bitcoin’s total market value would be on par with that of all gold held privately for investment purposes, they explained.The analysts clarified that bitcoin’s “fair value” is around $38K, up from $35K estimated last year.They calculated the coin’s fair value based on bitcoin being roughly four times as volatile as gold, adding that if the volatility differential narrows to three times, then the fair value of BTC would rise to $50K.