JPMorgan Chase experts predict rapid growth in the price of Bitcoin to $170,000

Experts at JPMorgan Chase have stated that the price of Bitcoin could reach $170,000 in the next 6-12 months. This assumption is based on an analysis of the cryptocurrency market and investment capital dynamics. Analysts led by Nikolaos Panigirtzoglou believe that Bitcoin absorbs more risk capital than gold, which in turn contributes to a significant increase in its capitalization.

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Experts also noted that the current market corrections that took place in October and November indicate the end of the debt reduction phase. They predict that increased volatility in the gold market will have a positive impact on Bitcoin's capitalization. With the US Federal Reserve's quantitative easing programs coming to an end, analysts are confident that the Bitcoin exchange rate will continue to grow, which may further increase investor interest in cryptocurrencies.