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[이데일리 이정훈 기자] In recent years, the price volatility of bitcoin, a virtual asset leader, has been decreasing, so institutional investors will be able to increase their bitcoin investment even as a substitute for gold investment, so that bitcoin is up to $130,000 (approximately 1 won). It could rise to 46.6 million won), predicted JPMorgan Chase, one of the leading investment banks in the United States.
According to FX Street on the 4th (local time), Nikolaos Panigirchoglow JPMorgan Strategy has recorded an average bitcoin price volatility of 86% over the past three months, a sharp decline from the level in February, which exceeded 90% earlier. I said that I did it. In particular, the average price volatility over the six-month period has dropped significantly to the 73% level.
Panigirchoglow Strategist predicts that the fall in price volatility will contribute significantly to attracting institutional investors to invest. He said, “It is a tentatively encouraging signal to the market that the price volatility of bitcoin is slowly normalizing,” he said. I expected it.
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In the meantime, the high price volatility of bitcoin has been a major concern of institutional investors for a long time, because the higher the price volatility, the higher the risk of investment in the asset.
As a reflection of this, the recent IBs Goldman Sachs and Morgan Stanley, which represent Wall Street, have decided to provide bitcoin investments for customer wealth management, and institutional investors are accelerating their entry into the virtual asset market. “As the price volatility of bitcoin is lowered, other institutional investors will join the same trend,” said Panigirchoglow Strategyist.
In particular, since the price of bitcoin has a low price correlation with traditional assets such as stocks and gold, it is expected that it will be of great help in enhancing profitability through portfolio diversification. In fact, over the last two quarters, more than $7 billion of funds flowed into the Bitcoin fund, resulting in a rise in price, which means that some of the $20 billion of funds that were pulled out of the ETF that followed gold during the same period went into bitcoin. see.
“If bitcoin investment increases by the amount of total private investment in the gold market, the price could reach 130,000 dollars,” Panigirchoglow Strategyist suggested this as a target price. “Considering how big the financial sector’s investment in gold is, if investment funds to replace gold come in, in the long run, bitcoin could rise significantly,” he said.
Earlier this year, JPMorgan said that the price of bitcoin could go up to $146,000 if it was assumed that the market capitalization of bitcoin would increase to the same level as gold, which is a combination of spot, exchange-traded funds (ETF), gold bars and coins. I have fortune-telling.