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WebsCrypto—News—Jpmorgan Reiterates Bitcoin’s Fair Value at $38,000
News

Jpmorgan Reiterates Bitcoin’s Fair Value at $38,000

By WebsCryptoFebruary 9, 2022
Jpmorgan Reiterates Bitcoin’s Fair Value at $38,000
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In a Tuesday report, JPMorgan reiterated bitcoin’s “fair value” at $38,000, about 12% below current levels.

That’s based on bitcoin’s volatility roughly four times that of gold, strategists at JPMorgan, led by Nikolaos Panigirtzoglou, wrote in a note. They estimate that Bitcoin’s fair value will rise to $50,000 if the volatility spread shrinks by a factor of three.

“Bitcoin’s biggest challenges going forward are its volatility and boom-and-bust cycles, which hinder further institutional adoption.”

JPMorgan

In a report late last month, JPMorgan cut bitcoin’s fair value to $38,000, arguing that its long-term price target of $150,000 set last year is unlikely to be achieved in the foreseeable future.

JPMorgan said at the time: “Our previous forecast that bitcoin-gold volatility will drop to around 2x later this year seems unrealistic. Based on the current bitcoin-gold volatility of around 4x, we Think Bitcoin’s fair value will be a quarter of $150,000, or $38,000.”

Related:  Bitcoin Hit Hard: 5% Down in 60 Minutes Amid Silvergate Uncertainty
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
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