JPMorgan: The theoretical price of bitcoin in the next 6-12 months will approach $170,000

ChainCatcher reported that despite the recent sharp decline in bitcoin prices, Wall Street bank JPMorgan still maintains its prediction that the theoretical price of bitcoin will approach $170,000 within the next six to twelve months.

JPMorgan analysts pointed out that Strategy is a key driver for bitcoin. The company has a $1.4 billion reserve fund to buffer the risk of bitcoin sell-offs, and noted that MSCI's index decision on January 15 is an asymmetric catalyst.