econintersect.com
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자
No Result
View All Result
econintersect.com
No Result
View All Result
Home Finance

Bitcoin’s ‘Fair Price’ Is $35K But Will Still Outperform – JPMorgan

admin by admin
11월 3, 2021
in Finance
0
Bitcoin’s ‘Fair Price’ Is $35K But Will Still Outperform – JPMorgan
0
SHARES
0
VIEWS

JPMorgan, the American multinational investment bank, has now put a price tag on Bitcoin. Strangely, the price tag is a lot less than the asset currently trades for.

In a recent report to investors, which was a part of the bank’s inaugural outlook that focused on alternative investments, the bank’s strategists made an interesting projection. They said that alternative assets that include cryptos “should continue to outperform into 2022.”

jpmorgan chase

They also insisted that Bitcoin’s ‘fair value’ is nearly $35,000 according to the company’s price model. This valuation is about 45% lower than its current trading price of $63,100. Nonetheless, a price target of $73,000 appears quite reasonable if volatility continues into 2022. The strategists are aware that these are not the sky-high targets that many expect and they  added:

“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.”

Notably, they suggested that the current entry point “looks unattractive,” but the cryptocurrency assets are on a “multiyear structural ascent.”

In conclusion, the analysts said that the alternative asset class that features private debt and private equity will return around 11% in 2022. That figure is double the 5% gain from the stocks and fixed income. Nonetheless, they never recommended cryptocurrency as a “core holding” due to its volatility.

Buy Bitcoin Now

JPMorgan Worried About Crypto’s Volatility

The JPMorgan strategists insisted that volatility that came in early September after the bullish market activity in August that saw the crypto space surpass $2 trillion in market capitalization by the end of August was the evidence. Around two months later, the market cap has gained by about 35% to top $2.87 trillion, based on data acquired from CoinGecko.

JPMorgan CEO Jamie Dimon said in late September that the prices of Bitcoin could still surge by ten times. However, he is not interested in investing in it. Dimon also said that the asset was ‘worthless’ in the following month.

The JPMorgan retail wealth clients appear to be interested in the crypto and they were granted some access to the digital currency in July. In early last month, JPMorgan strategists said that institutional investors were now favoring Bitcoin over gold as a hedge against inflation.

Morgan Stanley, a Wall Street investment bank, has also been giving analysis on cryptocurrency assets. The bank published a report on November 1 for its wealth management clients highlighting market trends, cryptocurrency industry metrics, and possible regulatory impacts.

Just like JPMorgan, the other major investment banks that are hiring crypto experts include UBS, Citigroup, Morgan Stanley, and Goldman Sachs. All these institutions are seeking the best way to invest in the thriving crypto market, according to reports.

Tags: bankingbanksBitcoinBitcoin marketBitcoin priceBTCcryptocryptocurrencyJPMorganmarket analysisprice analysis
Previous Post

Solana Secondary NFT Sales Exceed $500M In Three Months

Next Post

CashApp Available To 13 And Above: Will Teens Buy Bitcoin?

Related Posts

Namibia Will Regulate And Not Ban Crypto With New Law
Finance

Namibia Will Regulate And Not Ban Crypto With New Law

by admin
Bitcoin Stumbles As Macro And Regulatory Concerns Arise, What Next?
Economics

Bitcoin Stumbles As Macro And Regulatory Concerns Arise, What Next?

by admin
What Does Persistent Inflation Mean For Bitcoin?
Business

What Does Persistent Inflation Mean For Bitcoin?

by admin
Centralized Blockchain Payments Intensify As NY Fed Enjoys Success In The Space
Economics

Centralized Blockchain Payments Intensify As NY Fed Enjoys Success In The Space

by admin
Bitcoin Blasts Off to $34K Amid Soaring ETF Hype!
Economics

BTC price will soon break beyond $31K yearly highs – Bitcoin traders

by admin
Next Post
CashApp Available To 13 And Above: Will Teens Buy Bitcoin?

CashApp Available To 13 And Above: Will Teens Buy Bitcoin?

답글 남기기 응답 취소

이메일 주소는 공개되지 않습니다. 필수 필드는 *로 표시됩니다

Browse by Category

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

Browse by Tags

adoption altcoins bank banking banks Binance Bitcoin Bitcoin market blockchain BTC BTC price business China crypto crypto adoption cryptocurrency crypto exchange crypto market crypto regulation decentralized finance DeFi Elon Musk ETH Ethereum Europe Federal Reserve finance FTX inflation investment market analysis Metaverse NFT nonfungible tokens oil market price analysis recession regulation Russia stock market technology Tesla the UK the US Twitter

Categories

  • Business
  • Econ Intersect News
  • Economics
  • Finance
  • Politics
  • Uncategorized

© Copyright 2024 EconIntersect

No Result
View All Result
  • 토토사이트
    • 카지노사이트
    • 도박사이트
    • 룰렛 사이트
    • 라이브카지노
    • 바카라사이트
    • 안전카지노
  • 경제
  • 파이낸스
  • 정치
  • 투자

© Copyright 2024 EconIntersect