Analysts at JPMorgan Chase estimated the fair price of bitcoin at $ 38,000. The estimated number of these experts is 12% lower than the current price of bitcoin.
According to Crypto Briefing, although the price of bitcoin has recently fallen from its highest level of $ 69,000, some GPSMorgan analysts still believe that the current price of bitcoin is $ 44,000. Quinn is a lot.
The strategists of the banking and investment giant, led by Nikolaos Panigirzoglu, said bitcoin fluctuated 300% more than gold, saying the fair value of bitcoin was about $ 38,000.
Read also: Market situation: Was the bitcoin jump temporary this week?
Analysts say in a note released on Tuesday that the fair value and volatility of bitcoin are linked. According to this criterion, if bitcoin fluctuates less, it will have a fairer value than the current estimate. According to these analysts, if the difference between the fluctuations of bitcoin and gold is reduced by 200%, bitcoin could have a fair value of about $ 50,000.
According to these experts, the biggest obstacle to bitcoin in the future are its fluctuations and cycles of prosperity and recession, obstacles that they believe have limited the institutional acceptance of this digital currency. Panigrezoglu believes that bitcoin will reach a price of $ 150,000 in the long run. Last year, the organization’s experts estimated the long-term price of bitcoin at $ 146,000, so the current estimate slightly raised the price of bitcoin in the long run.
In recent months, JPMurgan has taken a relatively conservative approach to bitcoin. In June 2021 (1400 weeks), weeks after the Bitcoin reform and its $ 64,000 devaluation in April (April 1400), Panigrezoglu believes it is still possible to adjust the $ 26,000 price of bitcoin and the fair value of this digital currency. ranges from $ 24,000 to $ 36,000. That summer, Bitcoin recorded a memorable fix, reaching $ 29,000 before re-entering the $ 69,000 range in November and returning after a recent crash. Try again at this price.
In recent months, various factors have played a role in the collapse of the digital currency market. Fears of Emicron, a possible Russian war, growing solidarity with traditional assets and the Federal Reserve’s decision to raise interest rates in the New Year were among these factors.
In a note, GPSMorgan experts note that the trend in futures trading and exchange office reserves shows that the next drop in the price of the digital currency market may be the beginning of a lower price trend than the one we saw in May 2021. 1400). It will be more alarming.
While GPSMorgan predicts a relative bitcoin price scenario, other analysts’ forecasts show more signs of hope for bitcoin price growth. ARK Invest, an asset management company led by Cathy Wood, announced last month in a report that bitcoin will reach $ 1 million by 2030.
Studies show that the number of long-term investors in bitcoins has increased and the process of accepting bitcoins is relatively fast. The same report also predicts that the market value of the atrium will reach $ 20 trillion by the end of the decade, which puts the price of the atrium in the price range of about $ 180,000.
Commentary on the publication by GPS analysts; Bitcoin not worth $ 44,000 first appeared in digital currency.