JPMorgan Sees 28% Upside For Bitcoin: Report
JPMorgan thinks bitcoin is below its ‘fair price’ and now features among the bank’s preferred alternative investments.Banking giant JPMorgan said in a note Wednesday that bitcoin and cryptocurrencies are now among its preferred “alternative” investments, Markets Insider reported.Assets deemed as risky, which often includes bitcoin in the minds of professional and institutional investors, have plunged in 2022 amid tighter monetary policies and multiple decades-high inflation numbers in the U.S. and around the world. Bitcoin and equities have broadly tumbled so far this year against a....
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JPMorgan Chase & Co. has warned that any upside for crypto markets from here would likely be more limited. Basing their prediction on the relationship between stablecoins and the rest of the crypto market, the bank’s analyst explained that stablecoins’ share of the total crypto market cap “no longer looks excessive.”
JPMorgan’s Crypto Outlook
Global investment bank JPMorgan reportedly warned about cryptocurrency markets having limited upside in a note published last week.
JPMorgan sees stablecoins’ share of the total....
JPMorgan sees “significant upside” to the price of bitcoin. The global investment bank’s price target for the cryptocurrency is 28% above its current price. JPMorgan has also replaced real estate with cryptocurrencies as its “preferred alternative asset class along with hedge funds.” JPMorgan’s Bitcoin Price Target Is 28% Above Current Price Global investment bank JPMorgan published a bullish note on bitcoin and cryptocurrency Wednesday. The bank’s strategists, including Nikolaos Panigirtzoglou, wrote that their price target for bitcoin....
Global investment bank JPMorgan has published a report on the future outlook of crypto markets, including Ethereum’s upgrades, decentralized finance (defi), and non-fungible tokens (NFTs). The bank sees “the cryptocurrency markets as increasingly relevant to financial services,” its analyst described.
JPMorgan Outlines Future Outlook for Crypto Markets
JPMorgan analyst Kenneth Worthington published a report on the 2022 outlook for crypto markets Friday. The analyst wrote:
The applications from crypto have only just begun. Web3.0, greater use of NFTs....
JPMorgan has offered its view on the bitcoinization of El Salvador, the country which recently made bitcoin legal tender alongside the U.S. dollar. JPMorgan says, “It is difficult to see any tangible economic benefits associated with adopting bitcoin as a second form of legal tender.” JPMorgan on the Bitcoinization of El Salvador JPMorgan & Chase’s Latin American research team published a report titled “The Bitcoinization of El Salvador” Thursday. El Salvador recently passed legislation making bitcoin legal tender alongside the U.S. dollar. The JPMorgan....
JPMorgan’s analysts have predicted significant demand for bitcoin following the $100 million purchase of the cryptocurrency by Massmutual. The analysts believe that other traditional investors, including pension funds, will follow suit, leading to a conservative estimate of $600 billion demand for bitcoin. $600 Billion Demand for Bitcoin JPMorgan Chase’s analysts wrote a note Friday explaining why they see significant demand for bitcoin. They explained that the recent investment of $100 million in the cryptocurrency by mega insurer Massachusetts Mutual Life Insurance Co.....