JPMorgan determined the fair price of Bitcoin

JPMorgan determined the fair price of Bitcoin

The fair price of bitcoin is at $38,000, and Cryptocurrencies have overtaken real estate as one of the preferred “alternative assets. Business Insider writes this, citing analysts at JPMorgan Financial Holdings.

At the time of writing, digital gold is trading near $29,600. Named by experts fair price by 28% higher than the actual.

“Last month’s correction in the Cryptocurrency market is more of a capitulation compared to the January/February 2021 situation. Going forward, we see upside potential for Biktoin and the Cryptocurrency market as a whole”

JPMorgan said in a note to clients

Analysts at the holding company, including Nikolaos Panigirtzoglu, noted that the digital asset market suffered more than other “alternative investments” like real estate during the correction. In their view, this indicates an opportunity for growth.

Panigirtzoglu had already said in February 2022 that the fair price of bitcoin was around $38,000. At the time, digital gold was trading near $43,400.

In April, JPMorgan CEO Jamie Dimon recognized the value of Blockchain technology and DeFi applications.

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Written by Renat
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