JPMorgan: Bitcoin Could Reach $266,000 Long-Term, Attractiveness Relative to Gold Increases

Odaily News JPMorgan analysts stated that despite short-term sentiment pressure, Bitcoin is more attractive than gold in the long term, with its volatility structure suggesting a potential price of $266,000. The report noted that gold has significantly outperformed Bitcoin since October last year, but the rise in gold price volatility and the drop in the Bitcoin-to-gold volatility ratio to a historical low of around 1.5 make Bitcoin more advantageous on a risk-adjusted basis. This target is considered not applicable for this year but reflects Bitcoin's upside potential as a long-term hedge asset after a reversal of negative sentiment. (The Block)