Bitcoin’s Price Volatility May Hamper Its Progress Above $50K, JPMorgan Says

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 doubled down on its bitcoin price prediction of $146K. The bank’s analyst explained that the price of the cryptocurrency could reach that level if its volatility subsides and institutional investors start investing in bitcoin more than gold in their portfolios. JPMorgan Renews $146K Bitcoin Price Prediction JPMorgan released an inaugural report of its new publication last week focusing on the outlook for alternative investments, including digital assets. A new report is expected to be released every two to three months. The....

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’s long-term theoretical target for Bitcoin stands at $150,000, up from $146,000 forecasted in January 2021. Amid Bitcoin (BTC) posting a significant price recovery since early February, JPMorgan analysts suggested that the “fair value” of BTC is actually lower than its market price on Tuesday.The current fair-value level for BTC is around $38,000, JPMorgan strategists said in the bank’s latest investor note published on Tuesday. Led by JPMorgan crypto market analyst Nikolaos Panigirtzoglou, the strategists estimated the “fair value” based on Bitcoin being nearly four times as....

Leading investment bank JPMorgan has changed its view on the estimate of bitcoin’s price on a long-term basis. The institution had estimated a long-term price of $146K back in November when bitcoin was over $60K. One of the most important reasons for this change has to do with the increased volatility the asset has faced in recent times. JPMorgan Changes Long-Term Bitcoin Price Estimate JPMorgan, one of the biggest financial institutions in the world, has drastically changed its opinion on the price that bitcoin will reach long term. While JPMorgan was bullish last year,....