Gaining a good momentum in 2021 and being one of the main agenda items of Wall Street, bitcoin Couldn’t make a good start to 2022.
Despite price fluctuations, Bitcoin is taking firm steps towards becoming the mainstream, while price volatility and 4-year cycles reduce the interest of investors in it.
Noting this in a recent research report at JP Morgan, the biggest hurdle to institutional adoption of Bitcoin is price volatility and fall cycles stated that.
What Is The Fair Value Of Bitcoin?
In the report, led by Nikolas Panigirtzoglou, of bitcoin An estimate of its fair value was also made.
In the prediction made by looking at the relationship between Bitcoin and gold Bitcoin’s current fair value $38,000 levels was stated.
bitcoin and Ethereum Analysts, who think that stormy days are approaching, used the following statements:
“The challenge for Ethereum will be different from Bitcoin, as it acquires the majority of its value as a decentralized application currency rather than a form of digital gold.
Ethereum is facing major challenges due to decentralized finance and declining market share in the NFT sector.
Although Ethereum prices fell more than expected during this month’s correction, it failed to regain market share.”
As of our news hour, Bitcoin price continues to be traded at $37300 and Ethereum price at $2560.
*Not Investment Advice.