{"id":483355,"date":"2022-02-10T23:00:36","date_gmt":"2022-02-10T23:00:36","guid":{"rendered":"https:\/\/wncen.com\/?p=483355"},"modified":"2024-06-11T13:50:05","modified_gmt":"2024-06-11T13:50:05","slug":"jpmorgan-puts-bitcoin-at-150000-in-the-long-term-but-what-about-its-fair-value","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/jpmorgan-puts-bitcoin-at-150000-in-the-long-term-but-what-about-its-fair-value\/","title":{"rendered":"JPMorgan Puts Bitcoin At $150,000 In The Long-Term, But What About Its \u2018Fair Value\u2019?"},"content":{"rendered":"
Bitcoin has been on another recovery trend since this past weekend. It has continued on this path which has seen its balance above $44K. For most, this is a low value given that the digital asset was at $69K a few months ago. However, for JPMorgan strategists, this is not the case. Even at the current price which bitcoin has struggled hard to attain, strategist Nikolaos Panigirtzoglou believes that BTC is still overvalued.<\/p>\n
In a recent research note from JPMorgan, strategist Nikolaos Panigirtzoglou and others share thoughts around bitcoin. Even though the strategists are not particularly bearish on the digital asset, given their long-term outlook, they still believe that bitcoin is slightly overvalued. However, the value which Panigirtzoglou places BTC at is not that far from its current price, so it may be that bitcoin is following closely to what is expected.<\/p>\n
Related Reading |\u00a0Crypto Winter Is Thawing With Bitcoin And Ethereum Rebound Signal<\/a><\/strong><\/em><\/p>\n The team, led by Panigirtzoglou, places bitcoin\u2019s \u2018fair value\u2019 at $38,000. The digital asset has since beaten this price point and left it in its rearview mirror, but the JPMorgan strategists say that this is where the asset should be trading at.<\/p>\n The strategists calculate the fair value of bitcoin using its volatility compared to that of gold. Currently, BTC\u2019s volatility is roughly four times that of gold. However, when this volatility differential narrows to three times that of gold, the strategist explains that its fair value will then rise to $50,000.<\/p>\n \u201cThe biggest challenge for Bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,\u201d the note read.<\/p>\n <\/p>\n JPMorgan has always held a more bullish outlook for bitcoin in the long-term compared to the short-term. Last year, the strategists had put the price of BTC in the long term at $146,000<\/a>. This had come at a time when the bull rally was in full bloom. At the same time, the strategists had put the price of the digital asset at $73,000 in the short term, a price mark that the asset is yet to hit.<\/p>\nBTC gains $1K in hours | Source: BTCUSD on TradingView.com<\/a><\/pre>\n
Putting BTC At $150,000<\/h2>\n