JPMorgan Analysts Say $38,000 is the Fair Price of BTC
The fair price of Bitcoin is at $38,000, and cryptocurrencies have overtaken real estate as one of the preferred “alternative assets,” Business Insider has reported citing JPMorgan analysts.
At the moment, the asset is trading near $29,500. The fair price named by experts is 28% higher than the actual one.
JPMorgan has said in a note to the company clients:
“Last month’s cryptocurrency market correction is more like a capitulation compared to the situation in January/February 2021. Going forward, we see upside potential for bitcoin and the cryptocurrency market as a whole.”
The company analysts have noted that during the correction, the digital asset market suffered more than other “alternative investments” like real estate. In their opinion, this indicates the possibility of growth.