Bitcoin, the world’s largest cryptocurrency by market value, fell 1.59 percent to $93,684 on Sunday evening, but rose to $95,875.26 on Monday morning.
Analysts of the JPMorgan bank have identified the lowest point of the current decline in the price of Bitcoin and forecast that by 2026 it could seriously threaten the market capitalization of gold, reports Reuters.
The price of Bitcoin fell sharply last week to just above $94,000 from an October high of $126,000. However, JPMorgan analysts estimated that the production price of Bitcoin is around $94,000, which means that the room for further decline is very limited.
Also, a team of JPMorgan analysts reiterated their forecast for the year 2026, according to which Bitcoin could approach the market capitalization of gold, which is $28.3 trillion.
Analysts pointed out that the volatility ratio of Bitcoin to gold is decreasing, suggesting a potential price of Bitcoin of around $170,000 in 2026.
Gold reached a market cap of $28.3 trillion this year, well above Bitcoin’s $1.9 trillion market cap. However, analysts at JPMorgan believe this leaves a lot of room for Bitcoin to grow over the next six to 12 months.
JPMorgan’s forecast comes as Bitcoin and other cryptocurrencies are increasingly entering mainstream finance as legitimate investment instruments. Potentially approaching gold’s market capitalization points to growing acceptance and wider adoption of digital assets.
