The crypto industry has grown exponentially in the last ten years. Some cryptos, such as bitcoin, have gained from less than $1 in 2011 to tens of thousands of dollars today.
Bitcoin has indeed seen some significant price fluctuations in recent years. In 2021, it reached an all-time high of nearly $65,000 but plummeted to about $17000 by the end of 2022.
While these rapid price swings can be unsettling, it’s important to remember that they are just part of the nature of Bitcoin and the crypto market in general. Volatility is a double-edged sword that can lead to amazing profits or devastating losses.
But as long as you’re prepared for the potential ups and downs, you can succeed in this exciting market. Analysts across the globe predict a massive boom in the coming months. This boom is likely to push BTC to its all-time.
The boom could be followed by a massive rally pushing BTC past $100,000. And these predictions might have some weight behind them – researchers at JPMorgan Chase have stated that they believe Bitcoin is currently highly undervalued.
Bitcoin is highly undervalued!
According to the researchers, the fair value for Bitcoin is around $38,000. They predict that we could see a price correction in the coming weeks, pushing the value of Bitcoin past $40,000.
And this correction could be the beginning – many analysts believe that a major crypto boom is on the horizon, which could drive the value of Bitcoin past the $100,000 mark. There’s no denying that the potential for Bitcoin to reach the $100,000 mark is a hot topic in the crypto world.
And many analysts are optimistic that this could happen before the end of the year. For example, researchers at Goldman Sachs believe that if the masses continue to embrace Bitcoin as a store of value, we could see it hit that milestone. According to reports, Bitcoin currently holds over twenty per cent of the “store of value” market, which is certainly a strong foundation for growth.
Clearly, the mainstream acceptance of crypto is rapidly increasing, and JPMorgan has certainly played a role in this by recommending Bitcoin as a store of value over real estate. This is a big deal, as it shows that even traditional financial institutions recognise the potential of crypto. And it’s not just JPMorgan – we’ve seen governments worldwide beginning to embrace crypto. Just recently, El Salvador made headlines by recognising Bitcoin as a legal tender, and it’s expected that other governments do the same.