JPMorgan Predicts Bitcoin to Reach $170,000 in the Next Year

JPMorgan analysts have issued a bullish prediction for Bitcoin, forecasting it could reach around $170,000 within the next six to twelve months. This forecast is attributed to a completed deleveraging phase in perpetual futures markets and improved relative volatility compared to gold. 20% correction across crypto markets may have cleansed excessive leverage, setting the stage for renewed upward movement.