JPMorgan places BTC fair price at $38K, declares crypto a preferred alternative asset
Cointelegraph
Published May 25, 2022 03:15PM ET
Updated May 25, 2022 05:00PM ET
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.
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Written By: Cointelegraph
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