Bitcoin
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Ethereum, according to bank experts, will lag behind the first cryptocurrency in growth
According to JPMorgan analysts, the bitcoin rate should rise to $45,000, writes the Block. This is indicated by the current price of gold at almost $2,000 an ounce, since, according to analysts, the two assets tend to move in tandem and are viewed by investors as alternatives to each other.
JPMorgan said the value of gold held by investors outside central banks is currently valued at about $3 trillion, with a price above $2,000 per troy ounce. In turn, this implies a price of bitcoin around $45,000, assuming that bitcoin equals gold in the portfolios of private investors, JPMorgan strategists wrote.
$45 thousand is considered by analysts as the upper limit of the BTC price, indicating the limited potential of the asset, if you do not take into account halving (halving the income of miners) and increasing the cost of mining the asset.
What is bitcoin halving and how it will affect the price of the first cryptocurrency
The upcoming halving in 2024 will automatically double the cost of bitcoin mining to about $40,000, JPMorgan notes, and this mark has historically served as a lower limit for the asset price.
Regarding Ethereum, JPMorgan notes that the altcoin may experience some pressure from sellers and will give way to bitcoin in growth in the short term.
At 17:30 Moscow time on May 26, bitcoin is trading at $26.6 thousand, according to CoinGecko, it has risen in price by 1.4% per day. The Ethereum rate is at $1.82 thousand, it has grown by 1.7% in 24 hours.
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