JPMorgan says Bitcoin slightly overvalued as a commodity
Cointelegraph
Published Oct 14, 2020 03:38PM ET
Updated Oct 14, 2020 05:20PM ET
Multiple JPMorgan Chase (NYSE:JPM) experts analyzed Bitcoin’s current price when compared to other commodities, and noted that the asset could see selling pressure ahead.
“The JPMorgan strategists said they calculated an intrinsic value by effectively treating Bitcoin as a commodity and looking at the marginal cost of production,” according to an Oct. 14 article from India’s BloombergQuint media outlet — a partnered entity involving Bloomberg and Quintillion Media. The article added:
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Written By: Cointelegraph
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