JPMorgan says Bitcoin is undervalued compared to gold and could rise to $170,000 within six to 12 months, but Cathie Wood’s Ark Invest has lowered its BTC price target amid the stablecoin boom.
JPMorgan’s BTC price prediction comes after the market underwent a steep correction in recent weeks that led to major liquidations. Strategist Nikolaos Panigirtzoglou said this deleveraging in crypto derivatives, especially Bitcoin perpetual futures, is largely complete, paving the way for renewed upside for the crypto.
The investment bank also compared Bitcoin to gold on a risk-adjusted basis, assuming that Bitcoin carries approximately 1.8 times more risk capital than the commodity.
That means, the report said, its market value would have to rise by roughly two-thirds to match the $6.2 trillion in private investments in gold through exchange-traded funds (ETFs) and coins – a level that implies a real Bitcoin price of around $170,000.
Bitcoin Price Dropped 1% the last 24 hours to trade at $101,906.26 as of 3:11 a.m. EST, facts of CoinMarketCap shows.
BTC price (Source: CoinMarketCap)
Ark Invest lowers long-term price target for Bitcoin, but remains bullish
But Ark Invest’s Wood has indicated that her firm is now slightly less bullish on Bitcoin in the long term.
In one interview Together with CNBC, she revised her company’s Bitcoin price target for 2030 from $1.5 million to $1.2 million, because stablecoins are increasingly used instead of Bitcoin to make payments.
🚨 CATHIE WOOD ON CNBC: “Institutional investors have only dipped their toe in #Bitcoin.”
Trillions of global capital haven’t even hit the market yet.
If they do… the wave will be unstoppable ⚡️ pic.twitter.com/47wHypt5Q4— COACHTY (@TheRealTRTalks) November 7, 2025
“Stablecoins take over part of the role that we playI thought Bitcoin would play,” she said. “Given what’s happening with stablecoins – serving emerging markets the way we thought Bitcoin would – I think we could take $300,000 off this bullish case.”
Asked whether she would reconsider her company’s price target if stablecoins continue to gain popularity as a payment currency, Wood said Bitcoin as “digital gold” could take over half the gold market “or at least become as big.”
She then said that Bitcoin’s strength over stablecoins is that it is a “new asset class,” while stablecoins are just digital cash.
“Bitcoin is a global monetary system,” Wood said. “It’s leading a new asset class and it’s a technology in one. I think the whole [crypto] the space is getting bigger.”
Large institutions are switching to stablecoins
Wood noted that major players in the payments space, including PayPal and Visa, are moving into the stablecoin space, as are companies like Meta and Amazon.
The market capitalization of the stablecoin sector has risen above $300 billion this year facts from DefiLlama. The sector’s growth accelerated thereafter US President Donald Trump signed the GENIUS Act into law in July, creating a regulatory framework for the industry.
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