Bitcoin breaches $35,000 with JPMorgan seeing $146,000+ target for BTC

Bitcoin price has reached yet another all-time high, another for 2021 -- at $35,000 with JPMorgan estimating $146,000 in long term.

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Bitcoin has been going kinda crazy in the last few months, but it has been doing some truly lambo moves as it broke $30,000 and then $33,000 -- and now Bitcoin has even breached $35,000.

Bitcoin breaches $35,000 with JPMorgan seeing $146,000+ target for BTC 10

But now we have JPMorgan Chase & Co throwing fuel onto the crypto fire, with strategists at JPMorgan saying that Bitcoin could skyrocket up to $146,000 in its "long-term target". At the time of writing, Bitcoin was sitting steady at around $35,330 or so.

The JPMorgan strategists explained: "A crowding out of gold as an 'alternative' currency implies big upside for Bitcoin over the long term, a convergence in volatilities between Bitcoin and gold is unlikely to happen quickly and is in our mind a multiyear process. This implies that the above-$146,000 theoretical Bitcoin price target should be considered as a long-term target, and thus an unsustainable price target for this year".

Bitcoin's market cap of $650 billion right now, with the price of BTC sitting at around $35,330 -- but if Bitcoin were to climb with JPMorgan's estimates then we're looking at a market cap of nearly $3 trillion for Bitcoin.

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* Prices last scanned on 9/20/2023 at 10:16 am CDT - prices may not be accurate, click links above for the latest price. We may earn an affiliate commission.

Anthony joined the TweakTown team in 2010 and has since reviewed 100s of graphics cards. Anthony is a long time PC enthusiast with a passion of hate for games built around consoles. FPS gaming since the pre-Quake days, where you were insulted if you used a mouse to aim, he has been addicted to gaming and hardware ever since. Working in IT retail for 10 years gave him great experience with custom-built PCs. His addiction to GPU tech is unwavering.

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