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JP Morgan Says Bitcoin Can Hit $146,000 in the Long-Term

When the Bitcoin (BTC) was launched as an alternative to traditional financing, the asset found it difficult to be accepted by the global community. It took Bitcoin (BTC) a lot of time and developments before it could gain the attention of even the internet community.

However, the cryptocurrency managed to overcome all the obstacles and hurdles that came in its path. Since 2009 till now, the cryptocurrency asset has managed to gain a lot of success and worldwide adoption. Now the time is high for Bitcoin (BTC) as it is constantly experiencing a surge in its price, popularity, and adoption.

In the past couple of years, Bitcoin (BTC) has managed to gain so much success and mainstream adoption that analysts have now started comparing Bitcoin (BTC) with Gold.

For centuries, Gold has been the top commodity among the majority of the world economies. No matter the economic downfall or crisis, Gold has never appeared harmed or highly affected by either of the cases.

On the other hand, Bitcoin (BTC) has turned out to be one of the most volatile assets even in the cryptocurrency industry. After the 2017 plunge, there were a lot of uncertainties among the investors whether the asset was worth investing money in or not. However, the current price of Bitcoin (BTC) speaks for itself when it comes to its mainstream success and recognition.

Although the majority of the analysts now weigh both assets on the same scale, the only factor that separates them is their market capitalization. At present, the market capitalization of Bitcoin (BTC) is $5.85 billion while Gold’s market capitalization is 4.6 times more than that of Bitcoin (BTC). Based on the market capitalization factor, Gold has the top rank in the global assets market.

However, now even some of the major financial institution giants have started talking about Bitcoin (BTC). One of the most prominent financial institutions in this pool is JP Morgan that has started talking positively about Bitcoin (BTC) quite often.

As per the financial giant, there are possibilities that Bitcoin (BTC) will actually end up prevailing over its predecessor. Just recently, the strategists at JP Morgan shared their findings and analysis of the current trends being observed for Bitcoin (BTC) and Gold.

The strategists have shared a glide path that shows that in near future, Bitcoin (BTC) will end up catching up to Gold. The strategists revealed that in near future, the total investments made by the private sector in Bitcoin (BTC) will match that of the investments in gold. At present, gold is being traded and is in circulation via coins, funds, and bars.

However, the analysts predict that in order for Bitcoin (BTC) to catch up to its predecessor, it needs to remain stable. If Bitcoin (BTC) manages to remain stable for the long-term, it will manage to hit the price of $146k per BTC. Once that happens, then Bitcoin (BTC) will be able to leave its predecessor behind.

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