JPMorgan Raises Bitcoin Price Forecast to $170,000: Conditions Explained

On the 6th, JPMorgan analysts expressed the view that Bitcoin (BTC) could rise to approximately $170,000 within the next 6 to 12 months. This projection comes as leverage adjustments progress and relative volatility against gold improves, as reported by The Block. The analyst team, led by Nikolaos Panigirtzoglou, noted in their report that the cryptocurrency market has fallen about 20% from recent highs. The largest drop this year occurred on October 11, with record liquidations in perpetual futures. On November 3, the decentralized finance (DeFi) sector witnessed an attack on Balancer exceeding $120 million...