Bitcoin slips under $80,000 ahead of the Fed; JPMorgan's asset arm sees 10% long-run annual return

Bitcoin fell nearly 2% to about $79,800 early Monday as traders de-risked ahead of the Federal Reserve's decision on Wednesday, Oct. 28, according to CoinDesk, which said the coin needs to get back above $82,500 to improve its setup. CoinDesk tied the move to a mix of pressures, including another hit to the AI trade in Asian markets, Brent crude near $114, and talk of a possible December rate hike. The coin first broke below $80,000 over the weekend.

The longer-horizon view came from J.P. Morgan Asset Management, whose 2027 Long-Term Capital Market Assumptions, released Oct. 20, project a 10% compound annual return for bitcoin over 10 to 15 years with volatility around 55%. It is the first time the asset manager has published a range for bitcoin, a notable shift for a firm whose chief executive, Jamie Dimon, has long criticized the asset. Some coverage has extrapolated that rate to a three-year price near $112,000; that figure is a third-party calculation, not a JPMorgan projection.

More bullish voices remain. Investor Mike Alfred said he would bet "up to a million dollars cash that it hits 100k before it hits 60," and expects $200,000 to $300,000 in three to five years. The Motley Fool asked whether bitcoin can double in the next bull market.

Near term, the Fed decision and the AI-trade tone in equities are the drivers to watch, along with whether bitcoin can reclaim the $82,500 level CoinDesk flagged.