I remember when they say crude oil to 200$ in 2008. it was the top
JPMorgan says bitcoin could rally as high as $100,000 – but warns that such a surge would be ‘unsustainable’
Bitcoin could stage a monster rally in 2021 to as high as $100,000, but pricing at that level “would prove unsustainable,” JPMorgan said in a note on Monday.
“We believe that the valuation and position backdrop has become a lot more challenging for bitcoin at the beginning of the New Year,” JPMorgan said.
At its current market cap of $575 billion, bitcoin would have to surge to $146,000 to match the total private sector investment in gold via ETFs or bars and coins, according to the note.