JPMorgan Scared: These Bottoms Are The Real Value Of Bitcoin! - News-Credit-Mortgage-Coin


Car donation, Insurance, Credit, Money, news

Coin Market

Wednesday, November 3, 2021

JPMorgan Scared: These Bottoms Are The Real Value Of Bitcoin!


JPMorgan said that the fair value of Bitcoin (BTC) is $35,000. JPMorgan says that crypto is not attractive at current prices.

Is Bitcoin overvalued?

As Bloomberg reports, US banking giant JPMorgan claims that the fair value of Bitcoin is $35,000, which is 44% lower than the current $63,300 price tag. This determination is based on comparing the volatility of the cryptocurrency to that of gold. Currently, Bitcoin is four times more volatile than the shiny metal. JPMorgan says high prices are "not attractive". Billionaire Peter Thiel has claimed that BTC could be overpriced above $60,000 and its massive valuation could be a sign of out-of-control inflation. However, the banking giant believes that the top cryptocurrency could surpass $100,000 in 2022 unless it sees a massive drop in volatility. Last month, JPMorgan CEO Jamie Dimon angered the cryptocurrency community after describing Bitcoin as "worthless".

Real estate instead of crypto

JPMorgan predicts crypto to continue moving higher in 2022, with a modest 15% increase. However, the banking giant advises investors to avoid the volatile asset class in favor of the real estate sector. JPMorgan expects prices for both residential and commercial properties to rise due to increased economic growth prospects.

No comments:

Post a Comment