Bitcoin at $146,000 Is a Definitive Possibility, Says JPMorgan

From a virtual digital bust to a haloed and ballyhooed bullion replacement. 

That’s what at least one influential Wall Street investment bank sees for Bitcoin, the cryptocurrency that has seemingly risen from the ashes to record highs over the past months and weeks amid a flurry of interest from large-scale investors.

In a research note to clients, analysts at JPMorgan Chase predict a long-term bitcoin price target of more than $146,000 based on the assumption that the cryptocurrency will grow in popularity as an alternative to gold, which has traditionally been used as an inflation and volatility hedge, as well as protection against a falling U.S. dollar.