Bitcoin, that most capricious of assets, is reportedly trading below its fair value relative to gold when adjusted for volatility, according to analysts at JPMorgan. 🧠💸 A feat as likely as convincing a penguin to wear a top hat.
The rise in gold volatility during its rally to all-time highs in October makes the precious metal riskier and Bitcoin “more attractive to investors,” analysts said, based on the bitcoin-to-gold volatility ratio falling to 1.8, meaning BTC carries 1.8 times the risk of gold. A fact that would make even the most stoic investor weep into their champagne. 🥂😭
“By taking into account this volatility ratio, which implies that bitcoin currently consumes 1.8 times more risk capital than gold, then mechanically, the market cap of bitcoin at $2.1 trillion currently would have to rise by close to 67%, implying a theoretical bitcoin price of close to $170,000.
This mechanical exercise thus implies significant upside for Bitcoin over the next 6-12 months,” JPMorgan said. A prediction as reliable as a weather forecast in a hurricane. 🌪️📉
The theoretical price forecast from JPMorgan comes amid lowered BTC price predictions from several market analysts and investment firms after BTC fell below $100,000 on Tuesday, breaching a critical level of psychological support for the first time in four months. A milestone as thrilling as watching a toddler assemble a IKEA chair. 🛠️👶
Market analysts dampen Bitcoin price predictions
Some analysts now forecast that BTC is unlikely to recover the $125,000 price level by the end of 2025, due to several factors, including macroeconomic headwinds from tariffs and the Oct. 10 market crash that caused the largest 24-hour liquidation in crypto history. A tale of woe so gripping, it could rival a Dickens novel. 📖💸
Investment company Galaxy lowered its Bitcoin 2025 forecast to $120,000 from $185,000 on Wednesday, citing several factors, including BTC whales offloading 400,000 coins in October, investor rotation into competing narratives, and changing market dynamics. A narrative as convoluted as a labyrinth made of mirrors. 🧩🌀
“Bitcoin has entered a new phase, what we call the ‘maturity era,’ in which institutional absorption, passive flows, and lower volatility dominate,” Galaxy’s head of firmwide research Alex Thorn said. A phase so mature, it’s practically a grandfather. 👵👵
The presence of exchange-traded funds (ETFs) soaking up liquidity means that BTC gains will likely come at a slower pace than in the past, Thorn said. A slowdown so glacial, it could power a polar bear’s winter nap. 🐻❄️
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2025-11-07 00:59