"Will Bitcoin Double in Value?" J.P. Morgan Predicts All-Time High—Here’s Why

According to Financial News, global investment bank J.P. Morgan has projected that the price of Bitcoin (BTC) could nearly double next year, reaching a new all-time high. The bank’s analysis suggests that as uncertainty over interest rate outlooks dampens the stock market, investment in BTC is likely to increase.
On the 8th, the investment industry reported that J.P. Morgan’s latest report forecasts BTC could surge 84% over the next six to twelve months, potentially reaching $170,000. This outlook is based on J.P. Morgan’s 'volatility-adjusted BTC-to-gold comparison indicator.'
Nikolaos Panigirtzoglou, an analyst at J.P. Morgan, stated, “On a volatility-adjusted basis, the theoretical value of BTC compared to gold is $170,000.” He added, “This implies that BTC could see significant gains over the next six to twelve months.” In April, the U.S. stock market plunged due to tariff concerns, prompting investors to move funds into cryptocurrencies such as BTC. J.P. Morgan expects a similar trend to repeat next year.
Recently, BTC has entered a downward phase due to risk-averse sentiment and uncertainty surrounding next year’s interest rate outlook.

At the same time, concerns have been raised about MicroStrategy, the company holding the largest amount of BTC. With the recent sharp decline in BTC prices and a strong rally in its own stock, there is speculation that MicroStrategy may sell some of its holdings.
J.P. Morgan identified MicroStrategy’s decision to sell BTC and its status in the MSCI Index as key variables that could impact BTC’s short-term price. On Wall Street, warnings have emerged that MicroStrategy could be removed from major stock indices. If excluded from the MSCI Index, it is estimated that up to $2.8 billion could flow out of the market.
However, if MicroStrategy remains in the MSCI Index, this is expected to have a positive impact on BTC’s price momentum. J.P. Morgan noted, “If MicroStrategy stays in the major MSCI Index in January next year, BTC could recover to pre-drop levels and potentially reach a new all-time high.”


hsg@fnnews.com Han Seung-gon Reporter