Bitcoin price prediction: JPMorgan predicts Bitcoin’s price bottom at $94,000 and forecasts a surge to $170,000 within 6 to 12 months. This rise would push Bitcoin’s market cap close to $3.5 trillion. The forecast is based on Bitcoin’s risk-adjusted value compared to gold’s $28.3 trillion market cap, suggesting Bitcoin is currently undervalued by about $68,000. Institutional investors have increased Bitcoin exposure by 64%, especially via BlackRock’s iBIT ETF holding over $80 billion. The bank sees reduced volatility and deleveraging setting the stage for renewed accumulation, challenging gold’s dominance as a store of value.