Kevin Helms reports in bitcoin.com that "JP Morgan says that bitcoin’s volatility has decreased in recent weeks, making the cryptocurrency more appealing to institutional investors. The investment bank has also revised its bitcoin price target to $130,000."
The bankers based their $130K prediction on the gold price revising it from $146K saying that “The decline in the gold price since then has mechanically reduced the estimated upside potential for bitcoin as a digital alternative to traditional gold, assuming an equalization with the portfolio weight of gold.”
Will the price of Bitcoin be based on the gold price in the future? I do not think so. What is your take?
Source credit and full story - https://news.bitcoin.com/jp-morgan-bitcoin-decreasing-volatility-appealing-institutions-btc-price-prediction-130k/
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