JP Morgan (JPM) has set its new price target for Bitcoin. In a Thursday note covered by Business Insider, JPM says that Bitcoin may reach $130,000. Also, JPM thinks Bitcoin’s declining volatility makes it more reliable.
The American investment bank states that more institutional investors will be attracted to this crypto. According to JPM, expert investors will be comfortable seeking Bitcoin now that its price swings are less volatile.
In addition to that, JPM also predicts Bitcoin could reach $130,000 in the long-term if it matches the total private sector investment for gold. The banking giant further explained:
Source: Cryptocurrency - investing.com
