JPMorgan Says Bitcoin Will Hit $170,000, Ark Invest Cuts BTC Target

JPMorgan says Bitcoin is undervalued relative to gold and could rise to $170,000 in six to 12 months, but Cathie Wood’s Ark Invest has cut its BTC price target due to the stablecoin boom.

JPMorgan’s BTC price prediction comes after the market suffered a sharp correction in recent weeks that triggered significant selloffs. Strategist Nikolaos Panigirtzoglou said this deleveraging of crypto derivatives, particularly Bitcoin perpetual futures, is largely complete, paving the way for renewed upside for 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, he said, its market value would have to rise by about two-thirds to match the $6.2 trillion in private investment in gold via ETFs (exchange-traded funds), bars and coins — a level that implies a fair-value Bitcoin price of around $170,000.

Bitcoin price fell 1% in over the past 24 hours to trade at $101,906.26 as of 3:11 a.m. EST, data of CoinMarketCap broadcasts.

BTC Price (Source: CoinMarketCap)

Ark Invest Cuts Long-Term Bitcoin Price Target But Remains Bullish

But Ark Invest’s Wood reported that his firm is now slightly less bullish on Bitcoin in the long term.

In a interview with CNBC, she revised her company’s 2030 Bitcoin price target from $1.5 million to $1.2 million because stablecoins are increasingly being used instead of Bitcoin to make payments.

🚨 CATHIE WOOD ON CNBC: “Institutional investors have only just jumped in #Bitcoin.”

Billions of global capital have not even entered the market yet.
When they do… the wave will be unstoppable ⚡️ pic.twitter.com/47wHypt5Q4

– COACHTY (@TheRealTRTalks) November 7, 2025

“Stablecoins usurp part of the role that weI thought Bitcoin would play,” she said. “Given what happens to stablecoins, which serve emerging markets like we thought Bitcoin would, I think we could get $300,000 out of this bullish situation.”

Asked if she would revise her company’s price target again if stablecoins continue to gain traction as a payments currency, Wood said that Bitcoin, as “digital gold,” could usurp half of the gold market “or at least become as big.”

She then added that Bitcoin’s strength over stablecoins is that it is a “new asset class”, while stablecoins are just digital money.

“Bitcoin is a global monetary system,” Wood said. “It’s the leader of a new asset class and it’s an all-in-one technology. I I think the whole (crypto) space is getting bigger.

Large institutions are turning to stablecoins

Wood noted that the big 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 surpassed $300 billion this year, according to data by DefiLlama. The growth of the sector accelerated after US President Donald Trump signed the GENIUS Act in July, establishing a regulatory framework for the industry.

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