JPMorgan Chase experts predict Bitcoin will rise to $165,000
Date: 2025-10-06 Author: Oliver Abernathy Categories: CRYPTO PAYMENTS
According to a JPMorgan Chase report, Bitcoin is currently significantly undervalued relative to gold, which could push its price to $165,000 by the end of 2025. The main driver of this growth is the influx of investment into hedge assets, including cryptocurrency and precious metals, amid weakening fiat currencies and reduced Bitcoin volatility.
The bank notes that investment in Bitcoin and gold-based exchange-traded funds (ETFs) has increased significantly. According to the World Gold Council, $1.8 billion to $4.2 billion have flowed into gold ETFs weekly since the end of August, with total inflows reaching $13.6 billion in September. By comparison, spot Bitcoin ETFs received $3.53 billion during the same period.
JPMorgan Chase emphasizes that Bitcoin's current volatility relative to gold has decreased to less than 2 pips. This suggests that the cryptocurrency requires almost twice as much risk capital as gold. Given this, Bitcoin's market capitalization would need to grow by 42% to match gold investment, leading to a projected price of $165,000.
The bank's experts also note that Bitcoin was overvalued at the end of 2024. Bitcoin and gold show a direct correlation in the short-term (30 days) and long-term (365 days), although the 90-day moving average indicates an inverse correlation. Since mid-August 2025, gold has significantly outperformed Bitcoin in price growth, as reflected in analyst charts.
At the same time, gold's all-time high before the shutdown made the precious metal less attractive to investors, fueling interest in Bitcoin as an alternative hedge. JPMorgan Chase emphasizes that the growing demand for Bitcoin is partly due to the redistribution of capital in search of more profitable instruments.
Thus, according to the bank's experts, Bitcoin's current undervaluation and the dynamics of ETF investments lay the foundation for a sustained rise in its value, bringing it closer to its all-time high of $165,000.
