US-based investment bank JPMorganin a note published today in the cryptocurrency market evaluated the recent decline.
Despite the declines and sales wave in the crypto market, JP Morgan Bitcoin (BTC) and made an upward forecast about the cryptocurrency price.
“Fair Price for Bitcoin: $38K!”
of BTC the bank, which shared its estimate of its fair price, of bitcoin He reiterated his view that it should be $38,000. This figure means that it should be about 28% higher than Bitcoin’s current level.
Analysts of the bank made the following statements in the published note:
“The crypto market correction last month looks more like a capitulation than last January/February.
In this regard, going forward, we maintain our overall upward forecasts for the Bitcoin and cryptocurrency markets.”
“Cryptocurrencies Have Become an Alternative Investment Tool!”
Bank analysts, who stated that the sales hurt cryptocurrencies more than alternative investments such as private equity and real estate, also emphasized that cryptocurrencies are an alternative investment tool.
“Cryptocurrencies have overtaken real estate as one of the preferred alternative investment assets.
In this context, we are replacing real estate with digital assets as our preferred alternative asset class, along with hedge funds.”
Bank analysts finally TOP and in LUNA He added that his collapse has increased fear among many crypto investors.