JPMorgan: Bitcoin could rise to $266,000 in the long term, increasing its attractiveness relative to gold

JPMorgan analysts have stated that, despite short-term sentiment being under pressure, Bitcoin is more attractive than gold in the long term, with its volatility structure suggesting a potential price of $266,000.

The report notes that since last year, gold has significantly outperformed Bitcoin, but the rising volatility of gold and the decline of the Bitcoin-to-gold volatility ratio to a historical low of about 1.5 have made Bitcoin more advantageous on a risk-adjusted basis. This target is considered not applicable for this year, but after a reversal of negative sentiment, it reflects the upside potential of Bitcoin as a long-term hedge asset.