JPMorgan Predicts Bitcoin to Reach $170,000 in Next 6-12 Months Despite Current Bear Market

JPMorgan predicts Bitcoin could rise to $170,000 in the next 6-12 months, based on a volatility-adjusted valuation model comparing it to gold. The bank believes Bitcoin may exhibit pricing behavior more similar to gold over the long term. However, MSCI may remove companies with a digital asset weighting above 50% from its indices, which could impact MicroStrategy and Bitcoin.