JPMorgan’s New Bitcoin Target: $165,000 by Year-End

JPMorgan has issued a new Bitcoin price target of $165,000, asserting the cryptocurrency is now undervalued relative to gold.

The forecast is based on a volatility-adjusted model that shows a 42% expansion is needed for Bitcoin’s market cap to match that of private gold holdings.

The analysts highlighted a complete reversal in valuation, with Bitcoin swinging from overvalued at the end of 2024 to undervalued today.

They attribute the momentum to a retail-driven “debasement trade,” where investors flock to Bitcoin and gold as hedges against inflation and fiscal uncertainty.