JPMorgan Predicts Bitcoin Might Hit $266,000 Long Term, Outshining Gold

JPMorgan analysts suggest that while a $266,000 price target for Bitcoin seems far-fetched this year, it could be attainable in the long run as market sentiments shift.

According to analysts at JPMorgan, the cryptocurrency Bitcoin could potentially reach a staggering $266,000 in the long run. Although this target may seem "unrealistic" for the current year, they believe that it is achievable as negative market sentiments begin to wane.

The bank's analysts emphasize that the attractiveness of Bitcoin, particularly in comparison to traditional gold, is growing. As investor interest in Bitcoin continues to rise, it may pave the way for a significant price increase in the future.