JP Morgan Revises Bitcoin Target To $130,000, Citing Decreased Volatility
The financial giant is gradually becoming more bullish on Bitcoin and institutional adoption.
JPMorgan, in an email note released to clients on Thursday, cited decreasing Bitcoin volatility as a positive for institutional interest in the asset. In an article covering the release by Bloomberg, strategists including Nikolaos Panigirtzoglou at JPMorgan wrote:
“These tentative signs of Bitcoin volatility normalization are encouraging… In our opinion, a potential normalization of Bitcoin volatility from here would likely help to reinvigorate the institutional interest going forward.”
Maybe reasonable to tiptoe in further?