您现在的位置是:JPMorgan maintains $38,000 as Bitcoin's fair value amid recent slump >>正文
JPMorgan maintains $38,000 as Bitcoin's fair value amid recent slump
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛9275人已围观
简介JPMorgan analysts chose Bitcoin over real estate, adding that the former’s fair value is 30% a...
- JPMorgan analysts chose Bitcoin over real estate, adding that the former’s fair value is 30% above current prices
- They also observed that VC funding should turn the current bear market and prevent a crypto winter akin to 2018/2019
JPMorgan analysts led by Nikolaos Panigirtzoglou have opined on the current crypto market, finding that the fair price of the world’s leading digital asset, Bitcoin, is 30% higher than current prices. The bank’s analysts said that there’s significant potential that Bitcoin could rise to $38,000 and carry other crypto tokens along with it, despite recent market capitulation.
“The past month’s crypto market correction looks more like capitulation relative to last January/February, and going forward, we see upside for Bitcoin and crypto markets more generally,”the strategists said.
In the note sent to clients on Wednesday, the analysts maintained the prediction they had issued last February when they highlighted $38,000 as Bitcoin’s fair value. The approximation was 12% lower than the actual price of Bitcoin at the time, and the figure was achieved considering BTC volatility at a magnitude four times that of gold.
The JPMorgan strategists chose crypto as a preferred alternative asset for investment. They explained that other alternative asset classes, including private debt, private equity, and real estate, were all struck out for potential lagged repricing.
“A potential lagged repricing keeps us more cautious on private equity, private debt and real estate over the coming quarters. We thus replace real estate with digital assets as our preferred alternative asset class along with hedge funds,” they added.
Venture funding to avert a possible winter
The bullish prediction on Bitcoin and other cryptocurrencies by JPMorgan comes at a time when the market is suffering from various ‘attack events’ starting from Russia’s invasion of Ukraine to the US Federal Reserve’s efforts toward slashing the high inflation levels.
Terra’s recent downfall, along with its native LUNA and UST tokens, also shook the markets. Nonetheless, investor conviction remains high despite all that. Panigirtzoglou and company noted that investment should continue and this will help avoid a market scenario similar to that of 2018/2019 extended crypto winter.
“Thus far there is little evidence of VC funding drying up post-Terra’s collapse. Of the $25 billion VC funding year-to-date, almost $4 billion came after Terra,” the investor note read. “Our best guess is the VC funding will continue and a long winter similar to 2018/2019 would be averted.”
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/5292.html
相关文章
Where to buy Polygon as MATIC sees 4% rise
JPMorgan maintains $38,000 as Bitcoin's fair value amid recent slumpThe Polygon (MATIC) token seems to be heading towards a rally as the token is up by 4% in a day with...
阅读更多
Saudi’s first
JPMorgan maintains $38,000 as Bitcoin's fair value amid recent slumpBy subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time.Saudi Ara...
阅读更多
Boeing unveils stealth cargo plane concept for high
JPMorgan maintains $38,000 as Bitcoin's fair value amid recent slumpBy subscribing, you agree to our Terms of Use and Policies You may unsubscribe at any time.Boeing ha...
阅读更多
热门文章
- Scientists develop energy
- Deep fake AI will let Tom Hanks play his younger self
- China’s nuclear battery will charge your smartphone for life
- Zcash price could rally towards its 50 SMA soon
- World's only commercially available hydrogen fuel cell exhibited at CES 2024
- ‘Feel The Unreal’: These VR/AR gloves allow you to safely touch dangerous objects
最新文章
Coinbase says it won’t launch the USDC APY programme
You can now buy EBT, the hottest new coin: here’s where
US SEC approves Volt Equity ETF
Top crypto price predictions: Zilliqa and Near Protocol
Where to buy Drops Ownership Power as DOP rallies by 102%
BlackRock CEO is “probably more in the Jamie Dimon camp”