Cryptocurrency News
JPMorgan places BTC fair price at $38K, declares crypto a preferred alternative asset
2022.05.26 00:15
JPMorgan places BTC fair price at $38K, declares crypto a preferred alternative asset
JPMorgan (NYSE:JPM) has placed Bitcoin’s (BTC) fair price at $38,000, which is 28% higher than its current level of around $29,500, according to a note the bank issued to clients on Wednesday. “The past month’s crypto market correction looks more like capitulation relative to last January/February and going forward we see upside for Bitcoin and crypto markets more generally,” the note said. Bank strategist Nikolaos Panigirtzoglou was the lead author of that document.
A bank investors’ note placed Bitcoin’s fair value at the same level in February. It was trading around $43,000 at that time.
