Bitcoin Price Stays Low According to JPMorgan: Here’s The Level It Should Be!

Analysts of the US banking giant JPMorgan suggested that Bitcoin (BTC) will reach the level of 45 thousand dollars in parallel with the increase in the price of gold.

In a recent research report by JPMorgan analysts, the current price for Bitcoin above 75% found Price target of 45 thousand dollars given. analysts, gold between Bitcoin and correlation when giving this price estimation taking into account orientation towards safe harbors stated that it will support this rise. on the other hand Ethereum (ETH) Compared to Bitcoin, at least in the short term a lower performance will be emphasized.

The following statements were included in the note shared by analysts for investors:

With the price of gold rising above $2,000, the value of gold held for investment purposes outside of central banks is currently estimated at approximately $3 trillion. The result is a price of $45,000 for bitcoin, under the assumption that private investors equate to venture capital or gold in tuned terms.

Mining cost will be 40 thousand dollars

JPMorgan analysts say it will happen next year as another justification for the $45,000 price target. having (halving) showed the event. Mining with halving its activitiesn will double The production cost for 1 Bitcoin is approximately 40 thousand dollars. They reminded me that it will take it to the level.

Bitcoin’s production cost in average market conditions lower price limit Emphasizing that it works successfully as a company, the analysts detailed their statements with the following statements:

Indeed, previous halving events in 2016 and 2020 were accompanied by a bullish trajectory for bitcoin prices accelerating after the halving event.

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