Coin Citadel (CCTL)

[mick]

$CCTL VS BUBBLY Bitcoin gets long-term target of $146K at JPMorgan
Jan. 05, 2021 8:42 AM ETBitcoin USD (BTC-USD)By: Stephen Alpher, SA News Editor114 Comments

https://seekingalpha.com/news/3648768-bitcoin-gets-long-term-target-of-146k-jpmorgan

In today's episode of "life comes at you fast," Nikolaos Panigirtzoglou
and team at JPMorgan suggest bitcoin (BTC-USD) could rise to $146K if it were to match gold (XAUUSD:CUR) in terms of market capitalization.

That's a mere 4.6x the current price,
but about 35x from the level at which JPMorgan CEO Jamie Dimon called bitcoin a "fraud," and threatened to fire any bank employee dealing with it.

Panigirtzoglou stresses that this isn't a short-term call.

In fact, he says things appear quite bubbly at the current time,
and he's suggesting a sizable correction may soon be at hand.

For bitcoin to reach gold-like levels of market cap, says Panigirtzoglou,
it's volatility will have to come down to gold-like levels, and that process could take years.

Bitcoin today is about flat at $31.8K.
Bitcoin is facing some regulatory headwinds in the waning days of
the Trump administration, but it has defenders in high places.

Now read: A Bubble-Blowing, Bull Market, Blow-Off Top Phase - Cody Willard Joins Alpha Trader (Podcast)