, 2022-05-25 06:51:07,
- JPMorgan said it thinks bitcoin’s fair price is 28% higher than its current level, saying it sees opportunities in crypto markets.
- Cryptocurrencies have fallen dramatically in 2022 as investors have ditched riskier investments as storm clouds have gathered.
- But JPMorgan said it sees “upside” for bitcoin and crypto markets more generally after the sell-off, making digital assets a preferred alternative investment.
JPMorgan has said bitcoin’s fair price is 28% higher than its current level, implying “significant upside from here” after a dramatic sell-off in cryptocurrencies.
The bank said in a note Wednesday that cryptos have overtaken real estate as one of its preferred “alternative assets” — assets that don’t fall into typical categories such as stocks and bonds.
It said it was sticking to its view that $38,000 was a fair price for bitcoin. That figure was 28% higher than bitcoin’s $29,722 level on Wednesday morning.
“The past month’s crypto market correction looks more like capitulation relative to last January/February and going forward we see upside for…
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