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JPMorgan predicts a long-term Bitcoin price of $150,000 and outlines the challenges ahead

Global investment bank JPMorgan predicts that the long-term price of bitcoin will reach $150,000 while its fair value is $38,000.

BTC 4 hour chart | Source: Trade View

Bitcoin price prediction by JPMorgan

Global investment bank JPMorgan has published its forecasts for the long-term price of Bitcoin and the fair value of the leading cryptocurrency.

Strategists at JPMorgan Chase & Co., led by Nikolaos Panigirtzoglou, wrote in a research note published Tuesday that their long-term theoretical target for bitcoin is $150,000, versus $150,000 last year’s forecast of $146,000.

At this rate, the total market value of BTC will be equal to all privately held gold for investment purposes.

Analysts also state that Bitcoin’s “fair value” is around $38,000, up from last year’s estimate of $35,000.

They calculated a fair value based on Bitcoin being four times more volatile than gold, adding that if the volatility range narrows to three times, BTC’s fair value will rise to $50,000.

JPM strategists wrote:

“The biggest challenge for bitcoin going forward is its volatility, and boom-bust cycles are hampering institutional adoption of more.”

At the time of writing, bitcoin price is $43,209, up almost 17% in the last 7 days and almost 2% in the last 30 days.

Meanwhile, a customer survey by JPMorgan shows that the majority of respondents expect Bitcoin price to reach $60,000 or more this year. The company currently offers its clients a range of crypto investments.

Customer Bitcoin Price Expectations | Source: JPMorgan

However, JPMorgan CEO Jamie Dimon continues to warn people against investing in crypto, citing that the asset has no intrinsic value. He called Bitcoin worthless last October and questioned its limited supply.

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.