Bitcoin Price Prediction - $140k
After the recent price rise of Bitcoin, there has been much speculation on how high can it go...
JP Morgan released their price prediction for BTC to rise to around $140,000 over the next two years. Their prediction is that approximately 30% of the current value of Gold would transfer into 'digital gold' - BTC - hence the price prediction of $140k.
Investors are now seeing Bitcoin as a hedge against inflation and the weakening fiat markets and are moving money into the cryptocurrency. The volatility of BTC has been the largest impediment to wider adoption by investors, however, as this volatility wanes over the coming years, BTC will take it's place as a 'safe-haven' for money much like Gold does now.
As the main cryptocurrency, how will other tokens be able to take some of this market share? Only time will tell.
Looking forward to this ride and seeing where this will go.
Thanks for reading.