Bitcoin's Price Outlook Diverges Amidst Regulatory Discussions and Stablecoin Growth
Bitcoin's Price Outlook Diverges Amidst Regulatory Discussions and Stablecoin Growth
Recent market analyses present a mixed outlook for Bitcoin. JPMorgan forecasts a significant upside for BTC, pointing to a fair value of $170K. In contrast, Cathie Wood has revised her Bitcoin forecast downwards by $300K, partly attributing this to the unexpected rise of stablecoins as a store-of-value asset in emerging economies. Concurrently, Coinbase executives are advocating for clear crypto bills, highlighting their vital role in fueling the 'onchain economy' and ensuring the industry's future growth in the United States.
Analysts at financial services giant JPMorgan forecast “significant upside” for Bitcoin over the next months in a report on Wednesday.
Coinbase's Shan Aggarwal and Scott Meadows spoke to Cointelegraph at the Blockchain Futurist Conference on the future of the industry in the US.
Stablecoins have emerged as a store-of-value asset in emerging market economies at a rate no one predicted, Wood said on Thursday.