JPMorgan Chase Reiterates Bitcoin's Long-Term Target Price of $266,000

February 13: A JPMorgan analyst stated that, based on a volatility-adjusted comparison with gold, the long-term price target for Bitcoin is $266,000. The U.S. winter storm and the exodus of high-cost miners from the market are the main reasons for the drop in hash rate, but signs of a hash rate rebound are now being observed. Despite short-term fluctuations, the JPMorgan team remains optimistic about the crypto market in 2026, expecting institutional investors to drive market growth.