Bitcoin bulls weigh dueling forecasts from JPMorgan, Draper, Cowen

Source: Cryptonews Original Title: Bitcoin bulls weigh dueling forecasts from JPMorgan, Draper, Cowen Original Link: https://crypto.news/bitcoin-bulls-weigh-dueling-forecasts-from-jpmorgan-draper-cowen/

Digital Gold to Doom Cycle

Wall Street banks and crypto analysts have released divergent price projections for Bitcoin over the next 12 to 24 months, underscoring uncertainty over “digital gold” and macro risks.

JPMorgan’s Optimistic Stance

JPMorgan Chase has forecast significant appreciation for Bitcoin by 2026, positioning the cryptocurrency as a potential challenger to gold’s market dominance. The bank’s analysts project Bitcoin continuing to function as “digital gold,” with institutional capital inflows competing with gold’s market capitalization. The bank identified a near-term price floor from which recovery could gain momentum, while noting that regulatory clarity and reduced volatility could support sustained growth. Economic slowdowns remain a risk factor in their analysis.

Draper’s Bullish Prediction

Venture capitalist Tim Draper has predicted substantial gains by October 2026, attributing the forecast to Bitcoin’s potential role as a hedge against dollar debasement and its technological advantages over traditional currencies. Draper stated the cryptocurrency could prove more impactful than the internet through broader adoption in retail payments and financial services.

Cowen’s Cautious Outlook

Crypto analyst Benjamin Cowen has issued a more cautious forecast, predicting a potential market reset following a possible peak in late 2025. His analysis suggests Bitcoin could rise before declining in late 2026, entering a downturn similar to past market cycles. Cowen drew parallels to 2019 market conditions and warned that excessive optimism could trigger a sharp correction. He extended caution to alternative cryptocurrencies including Ethereum, arguing new all-time highs in 2026 remain unlikely due to Bitcoin’s market dominance and broader market fatigue.

Standard Chartered’s Downgrade

Standard Chartered has reduced its Bitcoin forecast by half, now expecting a lower peak by the end of 2026 than previously projected. The bank cited slower corporate treasury buying and increased reliance on spot exchange-traded fund inflows as reasons for the downgrade, describing the current market pullback as a “cold breeze” rather than a full downturn. Standard Chartered maintains a positive longer-term outlook, projecting higher levels by 2030 driven by supply constraints and portfolio reallocations away from traditional assets such as gold.

The varied projections emerge as Bitcoin trades near key technical levels following a volatile year-end period.