The world Famous Global Financial Investment Giant JP Morgan has recently anticipated that most probably the future price of the King of Cryptocurrencies Bitcoin has significant potential to hit the price range of $150k near time in the future. However, the Financial experts of JP Morgan clearly stated that the fair and balanced price of Bitcoin will likely remain around $38K - $40K. Moreover, they also added the biggest barrier that is not letting the King of Cryptos Bitcoin move forward is its unpredictable volatility and the boom and bust scenario that is preventing more financial institutions from its further adoption.
JPMorgan’s Bit coin Price Forcast
World-renowned Global Financial investment bank JPMorgan has recently unveiled its crypto currency and financial experts prediction about the long-term potential and expected hikes in the price range of Bitcoin along with the fair price value range of the world top Cryptocurrency Bitcoin.The team of financial experts and cryptocurrency strategists supervised by Nikolaos Panigirtzoglou mentioned in their recent research work on Tuesday that all eyes of his research and technical analysts are on the moves of Bitcoin and that is mostly viewed at $145k- $150k in the long term as it was anticipated last year as well.
At this level, Bitcoin’s total market value would be on par with that of all gold held privately for investment purposes, they explained.
Right now the total market worth of Bitcoin will be the equivalent of the privately held Gold that most investors still hold for investment purposes.
However, the cryptocurrency experts and analysts did explain the fair price value of Bitcoin for the current year is $38K that was technically analysed last year as the previous year fair value of Bitcoin was anticipated around $35 K
The team also stated that the current fair value of Bitcoin is roughly four times volatile as Gold. They further explained that if in case this volatility comes down to thee times then folks should expect the fair price value of BTC around $50 k level.
The JPMorgan Financial Analyst & strategists said
The biggest barrier that is not letting the King of Cryptos Bitcoin move forward is its unpredictable volatility and the boom and bust scenario that is preventing more financial institutions from its further adoption.
The current market price of Bitcoin is at & 43,856 entirely based on the data taken by Bitcoin.com Market price. Moreover, the price of Bitcoin is almost 19% higher over the last seven days and nearly 5% up since the last 30 days.
In addition to it, the Most recent client survey of JP Morgan indicates that a large number of holders are expecting the price level of Bitcoin this year would hit the $60 K range again.
On the other side of the current picture, the CEO of JP Morgan Jamie Dimon constantly warns crypto lovers not to invest in cryptocurrencies as it has no intrinsic value in the financial market. He further added last October that
Bitcoin seems worthless as the asset does not hold any intrinsic value and raises significant concerns and questions on its limited supply.
What do you folks understand by the statements given by JP Morgan’s Financial and Cryptocurrency experts about Bitcoin price prediction? Do let us know about it in the comments section.