Investment banking giant JPMorgan has issued a bold prediction: that Bitcoin could hit the remarkable price point of $170,000 within the next 6 to 12 months. This projection is fueled by two key factors: reduced market leverage and Bitcoin’s strong performance relative to gold. Leading the analysis are analysts led by Nikolaos Panigirtzoglou, who believes this forecast stems from a normalized market environment, coupled with Bitcoin’s resilience against traditional assets like gold. The team highlights Bitcoin’s 67% undervaluation compared to gold, suggesting that an influx of institutional capital could drive a substantial increase in its market capitalization, potentially reshaping the entire cryptocurrency landscape.