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The leading currency doesn't stop continuing breaking records, making the market happy. Experts forecast that it will reach new peaks.
Today (January 6), Bitcoin's price updated its previous high, overcoming the $ 35,000 mark. It rose by 11.16%, which was to $ 35,634 during the first half of the trading day. Later, the first cryptocurrency slightly declined, but did not give up its positions. At the moment, the BTC/USD pair is trading in the range of $ 35,150 - $ 35,200, heading for new highs.
The steady growth of bitcoin pushes analysts to make other encouraging forecasts. However, currency strategists at JPMorgan believe that many of them are capable of changing from a fictional category to a realistic one. They argue that the price of BTC can manage to surpass the level of $ 146,000 in the long term. In the event of such a scenario, the market capitalization of the leading cryptocurrency, which is now $ 575 billion, will grow by 4.6 times. JPMorgan believes that there is nothing improbable in such a situation.
Moreover, experts from this banking company emphasize that the multiple growth of Bitcoin's price is a long process that will take several years. Theoretically speaking, the bank's analysts say that the value of bitcoin above $ 146,000 should be seen as a long-term target, which is impossible in the coming year. However, this target becomes real in the long term planning range.
Their currency strategists warn that the possibility of large speculations on the crypto market cannot be disregarded this year. If such a turn of events happen, the leading cryptocurrency will head for $ 50,000- $ 100,000 mark. However, JP Morgan is confident that this will just be a temporary growth, since such price highs are extremely volatile and subject to serious volatility.
According to experts, the excessive cost of BTC of $ 100,000 and higher is not a problem for this cryptocurrency. Bitcoin will cope with such a load if the price rise does not occur simultaneously, but only gradually – step by step. They summarize that a sharp, zigzag growth of its prices will not bring success to the leader of digital assets.
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