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JPMorgan: Bitcoin can hit $146,000 as gold plays factor
Could bitcoin ever ‘replace’ the dollar?
First Trust Advisors chief economist Brian Wesbury on the future of bitcoin, the U.S. population and the potential impacts of the Georgia elections.
Bitcoin is roaring into 2021 setting more records and flirting with a $34,000 price which has JPMorgan seeing more gains for the cryptocurrency, perhaps in the “long-term” reaching the $146,000 level, as it takes some of the shine out of gold.
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“There is little doubt that this competition with gold as an "alternative" currency will continue over the coming years given that millennials will become over time a more important component of investors' universe and given their preference for "digital gold" over traditional gold,” wrote the team at JPMorgan led by Nikolaos Panigirtzoglou.