JPMorgan Suddenly Turns Bullish on Bitcoin Despite Recent Crash – U.Today
Banking behemoth JPMorgan has suddenly turned bullish on Bitcoin, predicting that the price of the leading cryptocurrency could potentially reach $170,000 within the next six months.
The banking giant now believes that Bitcoin is actually undervalued against gold.
Crypto is becoming “mainstream”
In the meantime, Bitwise CEO Hunter Horsley claims that crypto is becoming a mainstream asset class.
He sees 2025 as the start of a new chapter for the fledgling industry, which is now coming of age.
However, growing institutional adoption can also be seen as a bearish factor. As reported by U.Today, Galaxy Digital recently substantially lowered its Bitcoin price target to $120,000, citing the fact that Bitcoin has entered its “maturity era” as one of the reasons behind the decision.
