Bitcoin Could Go As High As $146K – JPMorgan

Bitcoin has recently recorded multiple new all-time highs and now more increases by the world’s largest cryptocurrency are expected.

Researchers at JPMorgan Chase expect Bitcoin could hit $146,000 in the near future, Dow Jones’s MarketWatch reported.

If the largest digital currency was to draw demand away from gold investors, new unprecedented highs could soon be seen.

Inflows of more than $3 billion into Bitcoin and more than $7 billion of outflows from gold exchange-traded funds (ETFs) since mid-October support the expectation.

According to JPMorgan, Bitcoin is attracting 3.4 times more risk capital than gold.

Over the past 24 hours, Bitcoin rose by more than 8% to trade above $33,400, extending its gains over the past seven days to more than 24.7%.