The debasement trade is still going strong as both Gold and Bitcoin hit a new all-time high on Monday, while the US Dollar fell to 1973 lows.
BTC is no longer on the sidelines, with its price hitting the $126,000 level for the first time in history.
Multinational giant JP Morgan’s analysts are now backing Bitcoin as an excellent store of value and a viable alternative to Gold. While that view has long been shared by crypto natives and select institutions, JPMorgan’s stamp of approval carries far greater weight, given its reputation, scale, and deep roots within traditional finance.
The institution’s analysts highlighted BTC’s historically low volatility and strong institutional interest as key reasons to be bullish on the largest cryptocurrency. They are now predicting that the Bitcoin price will hit $165,000 before year-end.
Even BTC-themed altcoins like Bitcoin Hyper (HYPER) are seeing significant whale investments, with many analysts viewing them as potential 100x coins.
J.P. Morgan’s views on Bitcoin have gone a full circle. A few years ago, the institution’s CEO Jamie Dimon threatened to fire employees who invested in BTC.
Today, its analysts are backing Bitcoin as a potential alternative to Gold.
The company’s latest report has highlighted BTC’s volatility falling to a record low, down from 60% to nearly 30% at the time of the report’s publishing. Citing the strong investments through corporate treasures and ETFs, it also argued that Bitcoin is currently undervalued, especially against Gold.
Indeed, corporate treasury purchases now account for more than 6% of the total BTC value, while spot ETFs recorded their second-largest weekly inflow last week, worth over $3.24 billion.
J.P. Morgan also highlighted the worsening macroeconomic outlook as a key reason to be bullish on BTC. The falling US Dollar and the Federal Reserve’s interest rate cuts provide the ideal backdrop for an explosive BTC rally.
$165k is emerging as a consensus BTC price target among top analysts. However, this would only mean 30% returns for investors buying today.
Meanwhile, Bitcoin’s Pi Cycle Top indicator is forecasting a peak at $199k, just shy of the $200k mark, which would mean nearly 60% returns.
Prominent analyst Poseidon has given one of the most bullish Bitcoin price predictions. He claims that BTC is trading within the Livermore Accumulation Cylinder pattern, and a breakout could catapult it to $250,000.
However, even this extremely bullish scenario would mean less than 2x returns for new buyers.
On the contrary, low-cap gems like Bitcoin Hyper could potentially deliver 10x to 100x returns.
Bitcoin Hyper (HYPER) is the latest cutting-edge BTC layer-2 project, powered by zero-knowledge architecture and the powerful Solana Virtual Machine.
It is designed to tackle the poor scalability, low latency and performance issues associated with Bitcoin. Instead, it aims to bring the programmability, scalability and performance of modern blockchains to the ecosystem.
With Bitcoin Hyper positioned to become the hub of DeFi and memes within the BTC ecosystem, it is no surprise that HYPER is in high demand, particularly among whales.
A whale purchased over $275k worth of HYPER in a single transaction on Monday, data from Etherscan reveals. Last week, another wallet invested over $500k into Bitcoin Hyper, while yet another whale purchased $310k worth of HYPER the week before. 3
The Bitcoin Hyper presale has already raised over $22 million in its ICO in short order, a sign of early demand and strong community support.
After all, the top layer-2 projects tend to reach multibillion-dollar valuations. Even Bitcoin’s Stacks (STX) has a peak market cap of over $5 billion.
Considering that layer-2 coins show a strong correlation with their respective L1S, HYPER is being viewed as one of the best cryptos to buy now that BTC is pushing higher in price discovery.
Unsurprisingly, many prominent analysts are calling it the next 100x crypto.
Visit Bitcoin Hyper Presale
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