JPMorgan: Bitcoin is undervalued vs gold with a price target of $170K

According to JPMorgan strategist Nikolaos Panigirtzoglou, Bitcoin currently appears undervalued compared to gold on a volatility-adjusted basis. Panigirtzoglou explained that leverage levels in the market have returned to normal, reducing the risks of overheating, speculation, and short-term sell-offs. He further stated that for Bitcoin to match the private investment value of gold, its price would need to rise approximately 66% from current levels to $170,000 within the next six to 12 months.