Wednesday, December 8, 2021
Home Crypto News Market JPMorgan Says Bitcoin Fair Price Is $35,000

JPMorgan Says Bitcoin Fair Price Is $35,000

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Analysts at JPMorgan called the fair price of bitcoin is $35,000, Bloomberg writes.



JPMorgan predicted the growth of digital currencies in 2022 at 15% per annum, which is higher than the growth indicators of real estate (12.5%), hedge funds (7.5%), and stocks (5%).

According to analysts, the high volatility of cryptocurrencies makes them less attractive to investors. The bank says digital currencies cannot be recommended as a key asset.

Bloomberg Writes:

“Take bitcoin, an asset the JPMorgan team views as a competing investment for gold. With the coin’s volatility roughly four times that of the precious metal, the firm’s model puts its fair value at around $35,000. Should the relative volatility get halved into next year, then a price target of $73,000 “seems reasonable,” the strategists said.

 

JPMorgan Report says:

“This challenges the idea that a price target of $100k or above, which appears to be the current consensus for 2022, is a sustainable bitcoin target in the absence of a significant decline in bitcoin volatility, Digital assets are on a multiyear structural ascent, but the current entry point looks unattractive.” 

Recall that in October, the JP Morgan Report Showed Institutional Investors Are Preferring Bitcoin Over Gold.

JPMorgan also Mentioned the Main Factor That Triggered A New Phase Of Significantly Fresh Capital Entering Bitcoin Which Was Not the Launch Of Bitcoin Futures ETF

On the other hand, JPMorgan CEO Said Bitcoin Has No Intrinsic Value And Regulators Will Soon Regulate The Hell Out Of It.

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Jakkkhttps://thecryptobasic.com/
Owner of TheCryptoBasic. Involved in cryptocurrencies for more than five years, Love to trade and write on cryptocurrencies. My primary aim is to provide genuine information to cryptocurrency readers because crypto is filled with frauds and scams. Accurate information is scarce to get. So We at TheCryptoBasic will be providing accurate information about cryptocurrencies topics that users can trust.

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