JPMorgan Says Bitcoin To Hit $170k, Ark Invest Trims BTC Target

JPMorgan says Bitcoin is undervalued compared with gold and could climb to $170k in six to 12 months, but Cathie Wood’s Ark Invest has cut its BTC price target because of the stablecoin boom.

JPMorgan’s BTC price prediction comes after the market suffered a steep correction in recent weeks that triggered large liquidations. Strategist Nikolaos Panigirtzoglou said this deleveraging in crypto derivatives, particularly 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 Bitcoin carries about 1.8 times more risk capital than the commodity.

That means, it said, that its market value would need to rise by roughly two-thirds to match gold’s $6.2 trillion in private investment through ETFs (exchange-traded funds) bars, and coins—a level that implies a fair value Bitcoin price of around $170k.

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

BTC price (Source: CoinMarketCap)

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

But Ark Invest’s Wood has signaled that her firm is now slightly less bullish on Bitcoin in the long-term. 

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

🚨 CATHIE WOOD ON CNBC: “Institutional investors have only dipped their toe into #Bitcoin.”

Trillions in global capital haven’t even entered the market yet.
When they do… the wave will be unstoppable ⚡️ pic.twitter.com/47wHypt5Q4

— COACHTY (@TheRealTRTalks) November 7, 2025

“Stablecoins are usurping part of the role we thought Bitcoin would play,” she said. “Given what’s happening to stablecoins—serving emerging markets in the way we thought Bitcoin would—I think we could take $300,000 off of that bullish case.”

When asked if she would revise her firm’s price target again if stablecoins continue to gain traction as payment currencies, Wood said that Bitcoin as “digital gold” could usurp half of the gold market “or at least become as big.” 

She then went on to say that Bitcoin’s strength against stablecoins is that it is a “new asset class,” whereas stablecoins are merely digital cash. 

“Bitcoin is a global monetary system,” Wood said. ”It is the lead in a new asset class and it’s a technology all wrapped in one. I think the whole [crypto] space gets bigger.”

Major Institutions Are Moving Into Stablecoins

Wood noted that big players in the payments sapce space, including PayPal and Visa, are moving into the stablecoin space, as are firms including Meta and Amazon. 

The stablecoin sector’s market cap has soared past $300 billion this year, according to data from DefiLlama. The sector’s growth accelerated after US President Donald Trump signed the GENIUS Act into law in July, establishing a regulatory framework for the industry. 

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