In brief
- Bitcoin’s volatility has plunged this year.
- Analysts at JP Morgan think this should make the asset more attractive to investors.
- The leading cryptocurrency’s price should be at $126,000, they said.
Bitcoin’s price should be higher as its volatility has plunged and the asset has become more attractive asset for institutions, JP Morgan analysts said in a note Thursday.
The analysts said that the price of the leading digital coin should be at $126,000 per coin, although they believe that BTC could still climb that high year-end.
Bitcoin was recently trading at about $111,950, according to CoinGecko data, virtually unmoved over a 24-hour and seven-day period. BTC hit a new all-time high of $124,128 earlier this month.
“The Bitcoin price looks too low compared to gold as Bitcoin volatility reaches historically low levels,” the note authored by Nikolaos Panigirtzoglou read.
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Author: Mathew Di Salvo
