Bitcoin bulls weigh dueling forecasts from JPMorgan, Draper, Cowen

Source: CryptoNewsNet Original Title: Bitcoin bulls weigh dueling forecasts from JPMorgan, Draper, Cowen Original Link: Wall Street banks and crypto analysts issue sharply conflicting Bitcoin targets into 2026, underscoring uncertainty over “digital gold” and macro risks.

Summary

• JPMorgan sees Bitcoin extending its “digital gold” role, eyeing upside if volatility eases and regulation firms up.
• Tim Draper targets outsized BTC gains by October 2026, framing it as a hedge against dollar debasement and legacy finance.
• Benjamin Cowen and Standard Chartered flag cycle risk and slower institutional demand, warning of a post-2025 reset and lower 2026 peak.

Digital gold to doom cycle

Major financial institutions and industry analysts have released divergent price projections for Bitcoin over the next 12 to 24 months.

JPMorgan Chase & Co. has forecast significant appreciation for Bitcoin by 2026, positioning the cryptocurrency as a potential challenger to gold’s market dominance, according to the bank’s analysts. The projection assumes Bitcoin (BTC) continues to function as “digital gold,” with institutional capital inflows competing with gold’s market capitalization, the analysts stated. 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, according to the analysis.

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

Crypto analyst Benjamin Cowen has issued a more cautious outlook, predicting a potential market reset following a possible peak in late 2025. Cowen’s forecast suggests Bitcoin could rise before declining in late 2026, entering a downturn similar to past market cycles. The analyst drew parallels to 2019 market conditions and warned that excessive optimism could trigger a sharp correction. Cowen extended the 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 has reduced its Bitcoin forecast by half, now expecting a lower peak by the end of 2026 than previously projected, according to the bank’s Global Head of Digital Assets Research, Geoffrey Kendrick. Kendrick 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. The bank 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, according to the revised forecast.

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