Traditional investment platforms continue to share their analysis of the cryptocurrency market. by JP Morgan strategists Bitcoin fair price statement has been made.
By comparing Bitcoin with gold, Nikolaos Panigirtzoglou and his team determined its fair value on the market conditions. under bitcoin 4 times more Stating that there is volatility, analysts stated that the calculation made may change depending on the condition.
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JP Morgan: “Bitcoin is trading above its fair price.”
According to the calculations of Panigirtzoglou and his team, Bitcoin, which has a value of $ 43,756 as of now, $38,000 it needs to level up. Stating that the fair price should be 12 percent below the current traded, the team made a prediction about the future of the popular cryptocurrency.
In the scenario where Bitcoin has a volatility difference of 3 times compared to gold at $50,000 level specified should be. Strategists who made a statement on the subject said, “Bitcoin’s biggest challenge going forward will be to continue with its current volatility. Institutional acceptance will be delayed due to this volatility.” made statements.
Talking about his long-term theoretical goals for Bitcoin, Panigirtzoglou said that the popular cryptocurrency $150,000 stated that they can see the levels. Panigirtzoglou also underlined that the price correction in January 2022 closed with less loss than in May last year.
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