Connect with us

Bitcoin

JPMorgan Believes Bitcoin Is Undervalued

Published

on

In a note published this Wednesday, American banking giant JPMorgan stated that Bitcoin is currently undervalued.

JPMorgan’s research team estimates that the fair price of the world’s largest cryptocurrency currently stands at $38,000.

America’s largest bank has now recognized cryptocurrencies as its preferred alternative asset, replacing real estate.

In March, Troy Rohrbaugh, head of global markets at JPMorgan Chase, said that the bank would move with clients on crypto.

More upside for Bitcoin

Global market strategist Nikolaos Panigirtzoglou has noted that the market has experienced capitulation over the last month. However, JPMorgan strategists are bullish on Bitcoin and the broader cryptocurrency market. 

In a note published this Wednesday, American banking giant JPMorgan stated that Bitcoin is currently undervalued.

JPMorgan’s research team estimates that the fair price of the world’s largest cryptocurrency currently stands at $38,000.

America’s largest bank has now recognized cryptocurrencies as its preferred alternative asset, replacing real estate.

In March, Troy Rohrbaugh, head of global markets at JPMorgan Chase, said that the bank would move with clients on crypto.

More upside for Bitcoin

Global market strategist Nikolaos Panigirtzoglou has noted that the market has experienced capitulation over the last month. However, JPMorgan strategists are bullish on Bitcoin and the broader cryptocurrency market. 

News Source