Bitcoin Prospects for 5 Years

 A former adversary and now an ardent supporter of crypto technologies, JPMorgan bank made a long-term forecast for Bitcoin quotes at 146 thousand US dollars per coin.


Bitcoin Prospects for 5 Years


According to the bank's strategists, if it is true that the first cryptocurrency is digital gold, then investments in Bitcoin should be at least equal to investments in real gold, including exchange-traded assets, physical bars and ETFs for the precious metal.


In this case, the capitalization of the coin will grow to 2 trillion 645 billion USD, which will correspond to the price of 1 BTC at 146 thousand USD.


The prediction, as our Mining-Bitcoin magazine learned, is not just a guess. Analysts at JPMorgan Chase & Co have identified a trend of competition for investment flows between physical gold and digital. Deposits will be made both in a spot asset and in funds, and in derivatives on Bitcoin - futures, options.


True, the process will not be too fast, since institutional investors will become the main investors, and their inflow is growing gradually. There are a lot of conservatives among the largest investors, it will take time before the trend to dilute portfolios with cryptocurrencies becomes the norm and Bitcoin replaces gold.


Therefore, the price of 146 thousand is seen as a target for the next five years. It is unlikely that the announced milestone will be reached this year.


Meanwhile, more and more companies and individual financial players began to allocate funds for crypto assets. Among contributors:


  1. Paul Tudor Jones is a billionaire and philanthropist who runs numerous hedge funds.
  2. Scott Minerd, founder of the global investment company GuggenheimPartners.
  3. Stan Druckenmiller, financier, former capital manager of D. Soros, and later DuquesneCapital fund with a capitalization of USD 12 billion.

Building on the growing popularity of cryptocurrencies, JPMorgan experts see cryptoassets as an opportunity to protect traditional money from inflationary risks, especially during a period of revival of fiscal stimulus. At the same time, the calmer the growth of Bitcoin, the more reliably the stability of the gained height should be assessed. In theory, if the cryptocurrency quickly reaches the $ 50K to $ 100K range, it will definitely be an unacceptable level that will have no chance of gaining a foothold.

What prospects do you see for Bitcoin in the 5-year horizon?

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