JPMorgan sees ‘significant advantage’ in Bitcoin – Replaces real estate with cryptocurrency as ‘preferred alternative asset’ – Markets and prices Bitcoin News

JPMorgan sees ‘significant advantage’ in Bitcoin – Replaces real estate with cryptocurrency as ‘preferred alternative asset’ – Markets and prices Bitcoin News

JPMorgan sees a “significant side” to the price of bitcoin. The target price of the global investment bank for cryptocurrency is 28% above the current price. JPMorgan has also replaced real estate with cryptocurrencies as its “preferred alternative asset class along with hedge funds”.

JPMorgan’s target price for Bitcoin is 28% above the current price

Global investment bank JPMorgan released a bullish note on bitcoin and cryptocurrency on Wednesday. Bank strategists, including Nikolaos Panigirtzoglou, wrote that their target price for bitcoin remains at $ 38,000, “which implies a significant increase in digital assets from here.”

At the time of writing, bitcoin is trading at $ 29,784, down 2.4% in the last seven days and nearly 25% in the last 30 days. JPMorgan’s estimate of fair value for bitcoin is almost 28% higher than the current price BTC.

JPMorgan’s strategists described in detail:

The correction of the crypto market last month is more like capitulation than last January, and in the future we see better for bitcoin and crypto markets in general.

Although the target price of the investment bank’s bitcoin is $ 38,000, its strategists are he said that their long-term theoretical target price for cryptocurrency is $ 150,000.

Crypto is becoming a desirable alternative asset class for JPMorgan, replacing real estate

In addition, the global investment bank now sees cryptocurrencies as its “preferred alternative asset class,” replacing real estate amid rising mortgage rates.

JPMorgan detailed that the recent market downturn harmed cryptocurrencies more than other alternative investments, including real estate.

Noting that this trend suggests that crypto has more room for recovery, strategists wrote:

Therefore, we are replacing real estate with digital assets as our preferred alternative asset class along with hedge funds.

The JPMorgan note followed a massive sale in the crypto market amid the implosion of the cryptocurrency terra (LUNA) and the algorithmic stabilcoin terrausd (UST).

Strategists noted that while the dramatic collapse of the two cryptocurrencies has weakened the mood of many crypto investors, so far there have been few signs that venture capital funding in the crypto sector is slowing.

Coincidentally, big WC firm Andreessen Horowitz (a16z) announced on Wednesday the launch of its new $ 4.5 billion crypto fund.

What do you think of JPMorgan’s prediction of the price of bitcoin and a bank that replaces real estate with cryptocurrency as its preferred alternative asset class? Let us know in the comments section below.

JPMorgan sees ‘significant advantage’ in Bitcoin – Replaces real estate with cryptocurrency as ‘preferred alternative asset’ – Markets and prices Bitcoin News

Kevin Helms

A student of Austrian economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His interests lie in the security of Bitcoin, open source systems, network effects and the crossroads between economics and cryptography.




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