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Analysts from the financial conglomerate JPMorgan believe that Bitcoin will surpass gold in terms of investor appeal, but this is expected to occur in the long run. Market contraction will create conditions conducive to the asset’s price growth.
According to the experts, the historically high volatility of Bitcoin compared to gold has decreased to a record low in recent months. This diminishes gold’s primary advantage over the digital asset.
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“The current panic in the crypto market is temporary. Once the perception of Bitcoin as a safe-haven asset aligns with that of gold, the market may begin a significant revaluation,” the bank’s analysts note.
For the total volume of private investments in Bitcoin to equal that of gold, the price of the first cryptocurrency must reach $266,000. The experts emphasize that this is not a short-term forecast: it is unlikely that this milestone will be achieved within the current year. Nevertheless, in the long term, this scenario is realistic if trust in Bitcoin is restored.
Previously, the chairman of the largest public corporate holder of Bitcoins — Strategy — Michael Saylor explained why Bitcoin could surpass gold in market capitalization and become more valuable than the primary precious metal by 2035.
