Can bitcoin continue to rise to $1 million? The multi air camp has been quarreled!

Source: original title: can bitcoin continue to rise to $1 million? The multi air camp has been quarreled! Bitcoin prices have soared in the past few months, breaking through $50000 for the first time this week. According to Morgan Creek digital assets, the price of bitcoin could reach $500000 by the end of 2030 and eventually reach $1m. However, JPMorgan warned that as the economy reopened, retail capital inflows into bitcoin could dry up, which was a significant risk. In J.P. Morgan’s view, bitcoin prices can’t remain above $50000 unless the volatility of bitcoin price eases rapidly. Super bulls believe that bitcoin will eventually reach $1 million and become a reserve currency. On February 17, Anthony pompliano, co-founder and partner of Morgan Creek digital assets, a cryptocurrency hedge fund, said the price of bitcoin could reach $500000 by 2030 and $1 million eventually, but did not give a timetable. “I think bitcoin will eventually become the global reserve currency, and its market value will eventually far exceed gold,” he said The agency’s view of bitcoin is based on several factors, two of which are the scarcity of bitcoin (the upper limit of bitcoin is 21 million), and the decentralized nature of the technology. The so-called decentralization refers to the fact that no central organization is needed to verify the transaction, that is to rely on all nodes to verify the authenticity of the transaction. Pompliano also pointed out that as more and more people enter the market, liquidity will increase, eventually leading to a more stable price of bitcoin. He even believes that bitcoin will eventually become the global reserve currency of the Internet generation. In fact, more and more participants have joined bitcoin. Rick Rieder, BlackRock’s head of fixed income, confirmed that BlackRock was entering bitcoin investment. According to BlackRock’s filings with the securities and Exchange Commission, BlackRock listed bitcoin futures as a potential investment in its two funds in January 2021. JP Morgan: unless the volatility of bitcoin eases, its rise will be unsustainable. Although many institutions continue to be bullish after the bitcoin boom, some institutions warn of the risks behind it, believing that its rise is unsustainable. JP Morgan is one of them. In January 2021, Morgan issued a report to its customers, setting the “theoretical” long-term target price of bitcoin at $146000. As bitcoin has begun to compete with gold for safe haven status, it still has higher premium space. However, JP Morgan also warned about the high volatility of bitcoin, saying in a report released on February 17 that the real price volatility of bitcoin in three months was 87% and that of gold was 16%. That is, bitcoin is five times more volatile than gold. JP Morgan believes that bitcoin’s current rally is still risky, although it is driven by institutional investors, but the participation of retail investors is also very high, and believes that there is not enough buying to maintain a high level of bitcoin. The biggest risk is that the liquidity impulse seen in the past few months has slowed down significantly from now on, according to panigirtzoglou. JPMorgan said the momentum to push bitcoin up to a record $50000 or more is unsustainable unless bitcoin price volatility eases quickly. (bitcoin price daily chart) at 10:52 Beijing time on February 18, bitcoin price was 52224.95 US dollars / piece.

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