JPMorgan Sees Bitcoin Aiming for $170K as Gold-Like Trends Strengthen

Global banking giant JPMorgan believes Bitcoin could be entering a new bullish phase, projecting a possible rise toward $170,000 within the next year. According to the bank, Bitcoin is increasingly behaving like gold — especially when financial markets face stress — and this pattern may signal strong upside ahead.

 

JPMorgan Signals Renewed Bitcoin Strength

In a recent client update, a team of JPMorgan strategists led by Nikolaos Panigirtzoglou noted that Bitcoin’s long-term outlook is improving despite short-term hesitation across the crypto market. The analysts highlighted several drivers behind the current environment: rising global uncertainty, shifting expectations for 2026 U.S. interest rates, and speculation about MicroStrategy’s next moves involving its large Bitcoin holdings.

The report states:

“Our volatility-adjusted model that compares Bitcoin to gold estimates a theoretical value close to $170K, indicating considerable appreciation potential over the next 6–12 months.”

The bank addressed worries that MicroStrategy (MSTR) might begin selling some of its Bitcoin if its stock premium keeps shrinking. However, CEO Phong Le recently clarified that a sale would only be considered if the firm’s mNAV dropped below 1. JPMorgan also emphasized that the company’s $1.4 billion cash reserves reduce the likelihood of forced selling.

Bitcoin Shows Safe-Haven Traits Similar to Gold

Bitcoin currently trades around $89,712, yet JPMorgan argues that the asset continues showing “safe-haven behavior.” Historically, when markets experience volatility or economic pressure, investors shift toward assets they perceive as stores of value. Bitcoin, like gold, has benefited from this pattern during previous periods of instability.

Could Bitcoin really hit $170 K JPMorgan thinks so. Discover the key factors behind this major prediction.

Key Events That Could Shape Bitcoin’s Next Move

A major catalyst to watch is the MSCI index review scheduled for January 15. This review could lead to the removal or inclusion of companies heavily exposed to digital assets. A negative update or unexpected selling by MicroStrategy could put temporary pressure on Bitcoin. In contrast, a favorable MSCI decision could boost sentiment and help the cryptocurrency move back toward previous highs.

Despite the risks, many analysts and institutional investors remain bullish. They point to Bitcoin’s limited supply, strengthening institutional involvement, and maturing market infrastructure as long-term factors supporting price growth.

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