JPMorgan analysts see BTC's rise as temporary. $BTC

According to JPMorgan, Bitcoin's current price of around $67,500 is quite high compared to its production cost of approximately $43,000 and its volatility when compared to gold, which is priced at $53,000. As such, they believe that any further rise in the cryptocurrency's value will be temporary and not indicative of a lasting upward trend.

"The discrepancy between BTC's price and JPMorgan's volatility-adjusted comparison to gold suggests a mean reversion around the zero line, thereby capping the long-term upside potential for bitcoin prices," JPMorgan mentioned in a report.