JPMorgan makes ultra-bullish Bitcoin price prediction

Bitcoin may have room to advance to around $170,000 over the next six to 12 months if current market conditions hold, according to new analysis from JPMorgan led by managing director Nikolaos Panigirtzoglou. The bank’s latest outlook argues that the recent correction, which saw Bitcoin fall nearly 20 percent from its recent peak, was accompanied by a meaningful reset in leverage across derivatives markets. JPMorgan analysts pointed to the liquidation wave on October 10, describing it as the largest on record for Bitcoin perpetual futures. A second round of forced unwinding followed on November 3, coming shortly after the more than $120 million exploit of the Balancer protocol source: https://finbold.com/jpmorgan-makes-ultra-bullish-bitcoin-price-prediction/