This was reported by representatives of JPMorgan bank, calling the current values of about $110 thousand “too low” relative to gold prices.
The bank’s managing director Nikolaos Panigirtsoglou noted the extreme importance of reducing bitcoin volatility for the growth of quotations.
Lower volatility makes it easier for institutional investors to allocate capital, as bitcoin and gold do. Analysts noted that the volatility ratio of bitcoin to gold fell to 2.0, the lowest value in the history of observations. Their calculations showed that based on the volatility data, the price of bitcoin should rise to about $126 thousand under current conditions.
Interestingly, JPMorgan CEO Jamie Dimon is a long—time critic of bitcoin and cryptocurrencies in general. In 2021, during a bull market rally, he claimed that bitcoin was “worthless.”
