JPMorgan Predicts $165,000 Bitcoin by 2023: Retail Interest Drives Forecast

JPMorgan has published a forecast predicting Bitcoin’s price to reach $165,000 in the coming years. This projection is based on Bitcoin’s current undervaluation compared to gold and growing retail interest in the cryptocurrency. The research highlights significant increases in retail investments into Bitcoin ETFs, indicating increased institutional confidence in Bitcoin as a safe haven asset. 4,500. Bitcoin’s price surge is attributed to factors like the increasing popularity of Decentralized Finance (DeFi) applications and rising interest from institutional investors.