JPMorgan Chase & Co. strategist revealed their expectations of Bitcoin (BTC) which has the potential to jump to a price of $ 146,000.
However, the expectation is a long-term analysis based on the current market capitalization of Bitcoin around $ 560- $ 580.
Through that amount, analyst known Nikolaos Panigirtzoglou explained that the price of Bitcoin needs to increase 4.6 times to make the price per coin $ 146,000.
At the same time, BitPay's Chief Commercial Officer Sonny Singh suggested that BTC prices would soar around $ 40,000 to $ 45,000 next month or so as sales pressure rises.
Singh also did not rule out the possibility that the United States (US) administration would start buying Bitcoin, and possibly even introduce more aggressive regulations.
At the time of writing, Bitcoin is trading at $ 30,826 with a decline of 8.2%.
Following the sharp decline yesterday afternoon, if Satoshi Nakamoto's assets fail to exceed the $ 31,000 support level, there is the potential for BTC to continue to decline during the correction.
The previous correction increased by 30% which could pull Bitcoin down to an all-time high (ATH) level, $ 20,000.
