JPMorgan: Bitcoin is 13% overvalued

time:2022-02-10 05:00 source:Internet

On Feb. 10, JPMorgan strategists led by Nikolaos Panigirtzoglou released a crypto market analysis report this week, noting that Bitcoin is 13% overvalued, about four times more volatile than gold, and its current fair value. is $38,000. “The biggest challenge for Bitcoin going forward is its volatility, and the boom and bust cycle that hinders further institutional adoption, and in an upside scenario where volatility further normalizes to around 3x, the fair value would be around $50,000,” the report stated. .” However, JPMorgan strategists remain very bullish on bitcoin’s long-term forecast, estimating that bitcoin’s future price may reach $150,000, up from an estimate of $146,000 a year ago.

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