"JP Morgan": Bitcoin expected to rise to $ 100,000
JP Morgan expects the price of the cryptocurrency to rise to $ 100,000, but warned that these high levels will not be sustainable, according to the “Business Insider” website.
The US bank said in a note that they could not exclude the possibility of Bitcoin registering a further rise until it ranged from the level of 50 thousand to 100 thousand dollars, indicating at the same time that those levels would not be sustainable.
The cryptocurrency rose to a level close to $ 35,000 during Monday's trading, before declining by about 17%.
JP Morgan explained that for Bitcoin to become an alternative to gold, it must have volatility levels similar to the yellow metal.
He continued: "It is unrealistic that investor allocations from Bitcoin match gold without convergence in volatility, and it is unlikely to achieve this quickly, as we expect this issue to take several years."
