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JPMorgan Predicts Bitcoin Could Reach $45,000 Due to Rising Gold Prices and Halving Event

JPMorgan strategists predict that Bitcoin could reach its former trading price of $45,000 due to the rising price of gold, as Bitcoin and gold have often been regarded as alternative investments by investors. The current surge in Bitcoin's price comes after a fall that dropped its price below its previously ranging market price of $28,000. JPMorgan highlights the bullish trajectory observed during previous halving events in 2016 and 2020, indicating the potential for a similar outcome following the next halving. However, the bank suggests that Ethereum may face some selling pressure in the near term, extending beyond the Shanghai upgrade until mid-year.

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