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Bitcoin Once Again Giving Bulls Hope for $12,000 and Beyond

  • JPMorgan says intrinsic value of the asset jumped on halving
  • Fundstrat, BI’s McGlone see scope for further gains ahead
   

Photographer: Philippe Lopez/AFP via Getty Images

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Bitcoin’s recent run higher has brought out a lot of old predictions -- and some new ones -- about the future of crypto prices.

The largest cryptocurrency has had quite a 2020, where after dipping below $4,000 it’s marched higher and is now bouncing around in the $11,000 range. It’s seen further acceptance in the mainstream investment community, experienced a “halving” where the rate of Bitcoin created dropped by 50% as of May, and seen correlations with gold rise to records.