Bitcoin Fair Price Is Around $35,000 But Price Over $70k Possible This Year - JPMorgan.

Bitcoin Fair Price Is Around $35,000 But Price Over $70k Possible This Year - JPMorgan.

2021-11-10 | Eddy Morgan

Bitcoin Fair Price Is Around $35,000 But Price Over $70k Possible This Year - JPMorgan.

BTC might reach $73,000, according to investment bank experts, if markets continue frenzied. JPMorgan Chase & Co., an American multinational investment firm, has established a price for Bitcoin (BTC), which is significantly lower than the asset's actual value. Alternative assets, such as cryptocurrencies, "could continue to outperform beyond 2022," according to a report to investors as part of the bank's first outlook focusing on alternative investments. According to the firm's price model, Bitcoin's "fair value" is about $35,000, which is around 45 percent less than its current trading price of $63,281. Nonetheless, the analysts said that a price objective of $73,000 looks plausible if the relative volatility continues into next year, but not the sky-high projections many predict. The current entry position "seems unfavorable," but crypto assets are on a "multiyear structural climb," they said. According to the experts, the alternative asset class, which includes private debt and private equity, would yield 11% next year, more than double the 5% increase seen in equities and fixed income. Due to its volatility, they did not recommend crypto as a "core holding." Following positive market action in August, which saw global crypto capitalization surpass $2 trillion by the end of August, JPMorgan strategists cautioned of turbulence in early September. JPMorgan CEO Jamie Dimon indicated in late September that Bitcoin prices might still rise by tenfold, but he isn't interested in investing in it. The asset was likewise "worthless" the next month, according to him. Retail wealth clients of the bank are certainly intrigued since they were given access to the crypto asset class in July. JPMorgan analysts observed in early October that institutional investors prefer Bitcoin to gold as an inflation hedge. According to sources, Morgan Stanley is one of a number of large investment banks seeking to acquire crypto expertise, including JPMorgan, Wells Fargo, UBS, Citigroup, and Goldman Sachs.

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