JPMorgan: Bitcoin Is Undervalued; Says Fair Price Is 28% Higher
Despite the crypto bear market, JPMorgan believes bitcoin is grossly undervalued. The bank today repeated its appraisal of bitcoin’s fair worth of $38,000, which it awarded the cryptocurrency in February when it was trading around $43,400. This is almost a 28% increase over the current price of $29,757. JPMorgan Gives Nod To Crypto As Alternative Asset Class Cryptos have surpassed real estate as one of the bank’s favored “alternative assets” or assets that don’t fit into traditional categories like equities and bonds, according to a note released on Wednesday.....
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Bloomberg cryptocurrency analyst Mike McGlone says bitcoin is greatly undervalued, suggesting that its fair value price should currently be somewhere around $15,000. The price of bitcoin (BTC) has see-sawed between $10,000 and $12,400 over the last few weeks, often tumbling sharply following what one pundit described as “fake” breakouts. The latest rout saw BTC crash more than 8% within days from over $11,000 to $10,100. At Press time, each bitcoin is trading for $10,695, up nearly 2% in the last 24 hours. McGlone, a senior commodity strategist at Bloomberg, based his arguments....
A strategist at JPMorgan stated that ether’s fair value is way lower than its current price. According to a set of measurements based on network activity, he calculated ether’s value at $1,500, 55% lower than its market price. One of the reasons argued for this assessment, is that Ethereum is not so unique anymore, and it is facing tough competition from other chains like Solana and Avalanche.
JPMorgan Strategist Thinks Ether Is Overvalued
Nikolaos Panigirtzoglou, Managing Director of JPMorgan, stated that he thinks ether (ETH), the native asset of the Ethereum....
Bitcoin has been on another recovery trend since this past weekend. It has continued on this path which has seen its balance above $44K. For most, this is a low value given that the digital asset was at $69K a few months ago. However, for JPMorgan strategists, this is not the case. Even at the current price which bitcoin has struggled hard to attain, strategist Nikolaos Panigirtzoglou believes that BTC is still overvalued. Bitcoin Fair Value Is 12% Less In a recent research note from JPMorgan, strategist Nikolaos Panigirtzoglou and others share thoughts around bitcoin. Even though the....
JPMorgan analyst Nikolaos Panigirtzoglou said that a medium-term fair value for Bitcoin now stands between $24,000 and $36,000. Following the worst May for Bitcoin’s (BTC) price in the past 10 years, the largest cryptocurrency is likely to continue falling in the short term, according to JPMorgan analysts.Weakened institutional demand is likely to drag the Bitcoin price below $30,000, JPMorgan strategist and Bitcoin expert Nikolaos Panigirtzoglou wrote in the latest research note to clients.Based on Bitcoin’s volatility ratios to gold, the JPMorgan analyst forecasted that Bitcoin will....
Global investment bank JPMorgan has predicted that the long-term price of bitcoin will reach $150K while the fair value of the cryptocurrency sits at $38K. “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,” JPMorgan’s analysts explained.
JPMorgan’s Bitcoin Price Prediction
Global investment bank JPMorgan has revealed its prediction for the long-term price of bitcoin as well as the cryptocurrency’s fair value.
JPMorgan Chase & Co.’s....