Analysts Divided: JP Morgan Predicts 84% Surge, Bloomberg Warns of $10K Drop
Virtual asset prices are showing a slight downward trend. Bitcoin continues to trade sideways around the $87,000 level.
On the 29th, local time, on the cryptocurrency market monitoring site CoinMarketCap, Bitcoin is recording $87,273, down 0.45% compared to 24 hours ago. Ethereum, the second-largest by market cap, is trading at $2,936, down 0.19%.
Ripple is down 0.66% at $1.85, and Solana is down 0.19% at $123, respectively.
As Bitcoin’s price has shown range-bound movement in the mid-to-late $85,000 range this month, market outlooks are diverging.
Global investment bank JP Morgan stated in a recent report, “There is a possibility that the Bitcoin price could rise by 84% over the next 6-12 months, reaching $170,000.” In contrast, Mike McGlone, senior strategist at Bloomberg Intelligence, said, “Bitcoin is following a path similar to the stock price trends during the Great Depression of 1929, when the Dow Jones surged nearly tenfold over nine years,” adding, “Bitcoin could drop to as low as the $10,000 level.
