Bitcoin zoom on $ 123,000 while crypto fans greet a “ uptober ” for ages

Despite the volatility of stock prices stimulated by the closure of the US government, the Bitcoin price climbs regularly since last Sunday, investors were informed by a report Thursday of JPMorgan analysts who predicted that it could reach $ 165,000 by the end of the year, citing the usefulness of Bitcoin as a coverage against the devulation of Fiat currencies.

Crypto defenders have long argued that Bitcoin could serve as a refuge in the midst of government uncertainty because of its decentralized architecture, although cryptocurrency has often negotiated with the step with traditional stock markets. But in recent months, investors have poured into Bitcoin in the midst of pricing threats. JPMorgan analysts argued that Bitcoin remains undervalued compared to another favorite coverage among investors: gold.

Other cryptocurrencies have also skyrocketed in recent days, Ethereum climbing almost 9% in last week at $ 4,500.

Not everyone agreed with JPMorgan’s pink prognosis. Alex Blume, founder and CEO of the advisor in place Fortune, Distant that this could be caused by investors pending a rally of the fourth quarter. However, Blume stressed that even the equity prices are upwards, which means that the market reacts to a broader monetary policy, including the reduction rates for reducing the federal reserve. “There is almost no other way to predict the future other than more printing of money, a clear advantage for the BTC,” he wrote.

The rise of the crypto intervenes while the US regulatory agencies continue to loosen the restrictions on access to investors to digital assets. The recent decisions of the Securities and Exchange Commission have authorized new funds negotiated on the stock market centered on cryptocurrencies such as XRP and Solana, and have created an opening for various financial companies to hold digital assets on behalf of their customers.

Solitary dissimist of the SEC, Commissioner Caroline Crenshaw, argued in a statement earlier this week that the new interpretation could open investors at the risk, from theft to the diversion of their assets. “I fear that the active ingredients of investors can go through the meshes of the net,” she wrote.