According to JPMorgan, the price of bitcoin might reach $45,000.
The $2,000 gold price and a hypothetical $45,000 bitcoin price are tied by their associated movements and investor preferences, according to JPMorgan researchers.
In light of the $3 trillion market value of gold now held by non-central institutions, the equivalent value of one bitcoin in private portfolios is $45,000.
According to JPMorgan, the price of bitcoin has reached an upper limit of $45,000, indicating that growth is constrained beyond rising mining costs.
According to JPMorgan, the impending Bitcoin halving in April or May 2024 will cause production costs to increase by about $40,000 overall.
The production cost of bitcoin serves as a trustworthy lower border, according to historical data, according to JPMorgan, with bullish tendencies occurring after the previous halving events in 2016 and 2020.
Every four years, the Bitcoin supply is cut in half, lowering mining incentives but maintaining scarcity.