Bitcoin Forum

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is terribly overpriced.  JPMorgan Chase & Co. strategists recently released a report (https://www.bloomberg.com/news/articles/2021-11-02/jpmorgan-touts-hedge-funds-real-estate-over-crypto-for-2022) where they mention that Bitcoins's price is overpriced and for it to hit the 100k mark it would need to have volatility decreased. They point out that Bitcoin is now being traded above 60k but the true price for Bitcoin should be $35k.

What do you guys think about this?

 

They have a conflict of interest to begin with, even if their estimations are in good faith, which I doubt. They're suggesting that groups invest in real estate or hedge funds oppose to crypto which is awfully convenient for them, considering investment consulting groups aren't really needed to invest in crypto to any significant degree - you purchase and hold, that's the extent of investing in Bitcoin.

As for their projections, mere speculation at most. Volatility's always been an issue, and it's a problem that should become less prevalent the more adoption there is.

As someone who's worked in finance for over 15 years now one thing that I've come to the conclusion of, an irrefutable conclusion, is that big banks are extremely corrupt, and that starts with the Worlds second biggest bank which we are discussing right here...JP Morgan Chase Bank.  Jamie Dimond is an absolute fool and the corruption ring master so anything that comes out of this institution I take with a large grain of salt.

Haven’t you heard this? Maybe they are now looking for buying as much as bitcoin under $100k and simply want the process to be delayed  8) Think from that point  :D I'm sure we are going to see $100k. Who care what did such retard says? They were negative all the time from the beginning to now. But they couldn’t prevent BTC to be accepted globally.

We don't need to pay attention on what JP Morgan says about bitcoin price. Its his point of view and it is not necessary the right analysis for bitcoin. Most of his words are for some hidden purpose and may not reflect his true point of view. These are the people who try to manipulate the market by their words because they are famous and people believe what they say.

Where is the article, if that link you posted above is what you used for this, then you can read the quote below which I got from the article in the link you posted above.

While they have a history to bash Bitcoin, this time it's you who draws odd conclusions.
@Charles-Tim is correct, they didn't say it's overpriced. They even predicted a new ATH, just lower than the much awaited 100k.

However, I find pretty much hilarious to see "JP Morgan analysts" make price predictions for Bitcoin and even a new ATH.  :D ;D

JPM CEO is a known bitcoin hater. So no wonder that his bank will come out with such ridiculous statements. If we had to believe Jemie few years back, bitcoin wouldn't have reached this point.

So the best course of action we can do is to ignore such jokers who were born to criticize everything new. JPM handles trillions of dollars remittance every year and earn fat commissions from it. With bitcoin, you don't need anyone to settle your remittance which is challenging JPM's dominance. So it's no wonder, they are trying to deframe bitcoin.

Yup, if anything this report was made in the hope to preserve their own skins. JP Morgan is all about hedge funds and I'm not surprised that this tactic of appealing to their user base has been used to stop them from ;getting away'.

There might be some truth in there around the fact that Bitcoin is volatile, of course it is, and that more money needs to be poured into it in order to reach the 100K but by no means that report is to be taken seriously!

Yeah, I also believe the report should not be taken seriously. We will surely be seeing it reach 100k alright! It may take some time but we will. I actually think this might just be fud for the guy to get more coins at lower prices. He has been a bitcoin hater, yeah, but when the smell of money comes into play, this sort of shark is always attracted by the smell of blood on the streets.

No thing to think about this statement or else from JP Morgan. They and their CEO attacked Bitcoin multiple times but after all they launched services to allow their customers to invest in Bitcoin.

From Bitcoin is a fraud in 2017 (https://www.reuters.com/article/legal-us-usa-banks-conference-jpmorgan-idUSKCN1BN2PN)
to JPMorgan to give all wealth clients access to crypto funds (https://www.reuters.com/business/finance/jpmorgan-give-all-wealth-clients-access-crypto-funds-business-insider-2021-07-22/)

We know that price is dfetermined due to several factors. He didn't even determine how he set 35$K as the right price?
If JP Morgan is able to determine the real price of things, why he just doesn't tell us!!

Such a behavior was always expected. This guy think to represent banks which are the first victims of the bitcoin technology. So as long he failed to attack the bitcoin system, he will keep appearing suddnly and say nonsense words just to remind that banks are still here and plays a big really. Maybe he didn't know that several banks have targets to build private blockchains or adopt the existing ones.

How $100,000 is overpriced? If Bitcoin price hit $100,000 with current circulation supply then the marketcap will around $1,886 trillion and it's only move from rank 9 to 6 not even close with Microsoft.

As JP Morgan team views Bitcoin will competing with Gold, then they're expect Bitcoin could hit Gold's marketcap. Gold's marketcap is $11.392 trillion while  Bitcoin price $62,328 and $1.175 trillion, they shouldn't be surprised if Bitcoin price x10 from now.

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Source https://8marketcap.com/

JP Morgan has been releasing such kinds of statements for the longest time, that I don't think it's still relevant whatever their comments are on bitcoin or cryptocurrency in general. It's pathetic that even after they are proven wrong by bitcoin and the community, they remain to be hostile and negative about bitcoin that I think they're doing it just to be the talk of the town.

At this point, I believe they are just subtly persuading people to invest on bank-controlled assets and not on bitcoin which they cannot and will not touch.

Honestly, I am pretty sick of hearing anything from this Jp Morgan guy. What you should take note though is that the supply of bitcoin is limited. Another thing would be to compare the rsi levels on previous all time highs from the past years along with the ATH a couple of months ago and compare it with the last ATH this month. By doing this, you will understand that bitcoin still has a huge wiggle room. And in my perspective, it is very possible to reach 72k+ to 80k plus within this year or in the first quarter next year. And when we reach those prices, it will only be a matter of time until huge names or corporations jump in and take a piece of the cake. This will push the price even higher and more so when ww manage to break the psychological resistance of 100k. If you read or do a but more research, you won't be bothered that much by the words of others and the small timeframe movements of the bitcoin market.

well there's no impossible with this kind of creation, indeed bitcoin is already proven and tested because of how it breaks all of those records such what it have now.. So probably it's not bad to think that bitcoin will be on top of 100k in the future, imagine 60k in just a months within this year so bitcoin is almost there so how it become unrealistic? .  And by the way that Jp morgan is like elon musk because they always think that bitcoin cannot surpass such level, but when the price is over sold they're buying too much..   ;D please ignore them. Lol

I think if it were possible to patent Bitcoin and have everyone who wishes to copy and use any of its technology pay for using it to a special account controlled by the Community, they will probably understand it's a pioneer in a revolutionary technology and is worth alot.
If you consider Bitcoin Currency as a first inflation-proof currency of decentralized Nation called Bitcoin Network, you will understand why it ahould be worth alot if Nation like Jamaica is worth alot

Easy for someone to say that now, when the 100k target is end of 2021, is what I'd say. Analysts at these places tend to go for what seems the most probably outcome on technical market factors but they haven't exactly been able to predict any of the past historic crashes on traditional markets.

End of the day, they'll blame irrational economics.

P.S. This doesn't change what they've always said about Bitcoin volatility though. Back in Jan they said BTC has a theoretical 146k price (https://www.cnbc.com/2021/01/05/jpmorgan-bitcoin-price-could-rise-to-146k-as-it-competes-with-gold.html) if it manages to reduce volatility by 6 times.

JPMorgan's old statement which is irrelevant for now.
To say BTC is too expensive to trade right now and should be $35k it's just a FUD made to influence the media and other people. This kind of FUD is made for their own benefit.
Right now BCT is even getting a lot of support and the current BTC price above $60k is worth it and it's still cheap, as the next ATH targets are at $80 and $100k. BTC's journey is still long but sure.

They weren't kind to Bitcoin in the past, so I'm not surprised that they're saying it's overpriced. But projecting that Bitcoin won't reach $100k sounds more like an excuse to their investors that might be looking into Bitcoin or to do their best of decreasing the price of Bitcoin, and allowing investors to buy it cheaper.
It's also a risky prediction because Bitcoin is not very far from $100k, and it actually sounds like a realistic goal for the near future. JP Morgan is one of those companies I truly despise because it represents everything that's currently wrong with capitalism. They got away with transporting drugs (https://edition.cnn.com/2019/07/10/business/jpmorgan-msc-gayane-cocaine-seizure/index.html), money laundering (https://www.occrp.org/en/daily/13194-u-s-agencies-impose-920m-deal-to-jpmorgan), and I think they'll get away with yet another case of money laundering (https://dailyhodl.com/2021/09/23/jpmorgan-facing-money-laundering-and-bribery-allegations-over-massive-oil-purchase/) just because of how rich and thus powerful they are.

Everyone believes that BTC is overpriced, yet people kept on buying and purchasing it as an investment mechanism. The problem with investment firms such as JP Morgan, they have an underlying conflict of interest with BTC that makes them oppose to such view. Remember that these firms have one thing in common- to earn money. Anything that hinders their growth will create this sort of statements against such.

To be honest, the value of BTC is derived from the law of supply and demand. Since people are willing to acquire BTC at such price, it is obvious that its price would increase.

People have been saying that since it was below dollar parity.  What it illustrates is a lack of understanding of the benefits of bitcoin (and some other cryptos). In short, it is JPM's analysts who are too boxed in to realize the full potential, it is more a statement about them than it is about bitcoin or crypto.

Couldn't agree more, their analysis is not a future analysis, their analysis is refers to what already happen before and compare it to the previous things.
If they could see the future potential of bitcoin (just like the bitcoin investors see) , they might be not said that bitcoin price is over price, not many people already realize the potential of bitcoin and i'm sure when all people already realize the potential, the price is already multiple times from the current price

Probably based on current fundamentals and methods of pricing assets it would look like BTC is overpriced, the long term those fundamentals might change as the Crypto economy adapts. I believe time will tell but if you are a believer then follow your instincts as we are in unchartered territory.

There is nothing that any particular person or group can do to control the price of bitcoin because the price is determined by direct supply and demand by traders. The high demand for bitcoin has caused its price to trade above $60K and it is still possible to expect more due to the increasing popularity during the new ATH. If JP Morgan says $60K is too expensive for bitcoin, then I'm sure he forgot that the demand for bitcoin is now unstoppable.

This morning, I read a local newspaper that ran a story about bitcoin. This is the second time the newspaper has published bitcoin news which I'm sure will increase demand interest again(although I'm sure the impact will never be big) especially for those who are interested in knowing about it.

Overpriced is a bit too much.
The price of Bitcoins is something that is generally defined by investments and not actually by a general person or a body therefore, more the people invest in it, more the value of Bitcoins would be. Which does mean that government, people, everyone they hold immense power over something like *bitcoin*, there is no centralize body, yes manipulations are always there but they also have a limit to these manipulations.

What does these statements mean ? What would they might do ? They might influence the people, people who follow them, that they would try and sell but I do think we are all done with these manipulations for the time being. I do think people just want the price to crash, so they can buy more and hold more for themselves.

This is basic manipulation strategy, situations or statements like these should be ignored.

how many people have so many opinions, I could not imagine at all that bitcoin would reach today's mark, so analysts say one thing, but bitcoin does it in a completely different way, so I don't really trust analysts' opinions, it seems to me that no one can predict the exact dynamics of the bitcoin price development

I did not find the exact statement of JP in the article. But if it's true, no matter how many times JP Morgan attacks incessantly saying Bitcoin price will not reach $100K, then when in fact it does hit $100K, I'm sure he will say Bitcoin won't reach $150k and so on. Maybe in the past he also said the price of Bitcoin would not reach $60K.

Opinions are like ass holes; everybody has one. Same applies for JP Morgan, although I doubt this is indeed the way they see it. It's probably some sort of client manipulation. It doesn't make any sense. Why should it be $35k? Have they analyzed this or can I assume that it's just an arbitrary number?

Large companies do this sometimes. They show that they're against something to drop its market value temporarily and then they make a generous purchase. Didn't Michael Saylor do this?

Wonders shall never cease.
Anyone that believes in what JP Morgan said about Bitcoin being overpriced is totally naive cause JP Morgan once predicted the price of Bitcoin to climb up to $130,000 price (https://www.forbes.com/sites/billybambrough/2021/04/02/jpmorgan-reveals-big-bitcoin-price-prediction-as-bitcoin-and-crypto-market-surges-toward-2-trillion/) range.
Now they are saying it is overpriced, they just want to cause fud so that people can take profit.

They can say all the things that they do want because no one could actually make out precise predictions on what price Bitcoin should be playing on.

100k price isnt really just too overpriced because everything will really vary with the demand itself and that would be setting out no definite price

Its just  expected that Banksters would always have negative impressions or thoughts towards crypto specially on Bitcoin and its not actually surprising.

It's a psychological control tool for market manipulation. That is what the capitalist do, create a FUD in the market and then buy cheap. Only noobs will listen to this! Why will a notorious capitalist would want to help you when he actually doesn't care about you? People must be responsible for their action and inaction.

This is very true, there is a vast conflict of interest taking place. You can already see there is huge demand for cryptocurrency related funds right now and many big companies are trying to incorporate it into their service offering since it has been established for a while now. Paypal and soon to be Mastercard are allowing large parts of very rich countries access to this cryptocurrency that has been advertised as a huge gainer for many years now - people are definitely still interested while the quantity available remains static. Every new company that announces interest in this is going to take a chunk of availability further away and reduce volatility as they suggestion. They are selling this hard to customers on one side while their (usually very unreliable) analysts are projecting an opposing story to drive down the price. These investment banks make money from regular trading transaction fees, not from people who sit and hold these assets.

Let them say anything but let's not forget JP Morgan Chase is a bank and these bankers can go any limit to pull down the value of bitcoin like they did in the past as well. I think we should pay heed to their predictions because they are the most corrupt and greedy people on this earth. This may be a new trick to manipulate market to get in at a lesser price.

That report is embarrassing.  It's behind a paywall and your numbers aren't really correct compared to what was stated in the report, so it's a bit misleading.  From seeing the report, it was blatantly obvious they were just throwing out numbers.  They 'basically' said Bitcoin is going to be somewhere between $30K and $200K so it might be a good time to buy or sell.  I honestly couldn't think of a more useless conclusion and the fact that they felt the need to send this to clients right now is a bit telling.  They aren't totally wrong though if you consider that they're more-less saying we're headed for a bubble, so keep in mind that Bitcoin is only worth $30K when it hits $200K and don't be a buyer.  I think you'd have to have enough knowledge about what's to come in order to understand their speech though.

Let it be.
We don't even know what meant to him. We also know that many people may be including JP morgan also have a certain interest. This may be a little bit worrying news for Bitcoin. But It will not give much influence.
Well, reaching $100k may be very difficult and I also think that this is a very high value. But, why not?
Many more people are now holding Bitcoin and we believe in Bitcoin so that the value and also rate may be increasing so fast.

Usually this kind of statement is not surprising, and on the contrary, you should hold that the opposite are going to happen here.

Or they just wanted to buy cheap Bitcoin again because they have history of creating FUD or at least jumping on some FUD and then when the market is affected negatively, they are going to buy ton of cheap bitcoin, sell at a a right time to make profit.

Let's him speak as his belief, no one knows the future. Everyone can predict as his own analysis, in reality the price can be unpredictable. Bitcoin price cannot be determined by JP Morgan's statement, so why we must believe him? However, it seems that JP Morgan didn't claim Bitcoin cannot reach $100k, he is just not sure $100k achievable in the near future.

And besides, who is he to dictate what will happen to the market? Remember, before he is anti-bitcoin and now, it seemed the air changed. No one can exactly tell the future of bitcoin, so everyone is just speculating what may possibly happen to the btc market. Even self-proclaimed experts can make mistakes with their prediction.

If you've been here on this market for years then these kind of sentiment or words wont really be that something new or something that you would be schocked or panic about it.We do have our  own opinion on things and since the  market isnt something that you couldnt really able to guess upon then
people would make out sentiments which turns out to be nonsense on most part and in bitcoin community we've known that it  is running already for a decade and when it comes to criticisms then there are lots of it in the past so dont be surprised everytime you do hear off these kind of words.

The FUD spreader, why would we believe in this guy?

If he thinks bitcoin is overpriced and we don't believe in him, it should not affect our decision to invest.
Maybe overpriced in a short period of time due to hype that would result in a pump of price, but in general, it's now because it's based on demand and as we read in the news, more institutional adoption is happening, even a country adopted in bitcoin, so the price is justified right.

I believe they're getting interested on bitcoin, or else the JP Morgan team won't take bitcoin into consideration and reveal analytics. I think they believe on the market to be manipulative by popular people. To negative news bitcoin used to react immediately and turn bearish in the past. Now things have changed as people are mature to know better and doesn't get panic. This is the very beginning and soon JP Morgan can have his company holdings in bitcoin.

doing the math of mining cost where absolutely no one on planet can mine below the most efficient cost..
this value does work out as $35k .

this bottom line value number is not an indicator of what the PRICE should be. its more of an indicator of what everyone would refuse to sell below.. much like retailers have a retail price. but they also have a supplier cost. and would never sell below their cost of getting the goods

the $35k i dont see as a thing the price should be. but an indication that the $61k price is near 2x value

however there are other things you can learn from calculating mining costs.
in denmark its actually costs $72k to mine bitcoin right now. meaning they are not mining. but instead BUYING
meaning there is some demand of buying bitcoin above $61k
germany is at $79k. meaning if they mined they are losing money. but they are getting a great deal buying at $61k far below their mining cost.(like denmark)

however there is NO country on the planet with a mining cost of $100k. so there is absolutely no reason for anyone to buy coin at $100k because every country on the planet can mine bitcoin for less than $80k

learning about this $35k->$80k window gives people an idea of the region of calculated buying/selling power

and if anyone wants to know. to get a complete bottom line value where the price will never tip below due to mining cost

hashrate needs to be 445exa to keep a stable price above $100k
hashrate needs to be 230exa just to have a possibility of peaking(temp) to $100k due to calculated buy/sell power

I also think that JP Morgan might be interested in investing in Bitcoin, because they must have been paying attention to the movement of Bitcoin
all this time. Moreover, JP Morgan has a team that is smart in terms of analyzing the market, and JP Morgan knows that spreading FUD can make
Bitcoin prices fall. And when Bitcoin fall they will buy Bitcoin at a cheap price, such a strategy is indeed carried out by large capital owners.
Unfortunately investors are now getting smarter, many old investors have learned from the mistakes that occurred in 2017. So with a lot of
FUD circulating, I'm also sure that not many people will panic, maybe those who are affected are newbie and inexperienced investors. Therefore,
when China spread FUD by saying China banned crypto, the price only fell briefly, then not long after the price went up again. Likewise, the FUD
that JP Morgan spreads will not greatly affect the price of Bitcoin.

Update  ;D :D The JP Morgan analysts have changed their minds. The new target is 146k  :D ;D
JPMorgan renews prediction that bitcoin could hit $146,000 - and says it's acting more like digital gold than ever (https://markets.businessinsider.com/news/currencies/bitcoin-price-outlook-146000-jpmorgan-crypto-digital-gold-inflation-2021-11)


Since there's nothing to compare it with, Bitcoin price can actually go anywhere. It's fun to see them hype it though  :D



OP, your "100k is overpriced" story no longer stands. I advise you add an update to the first post and then lock the topic.

He's at it again, we should stop giving this guy any attention that he needs. He's taking the fame extremely into his favor by these media giving him the attention that he wants. He's a known guy that plays good and bad to the market, today he'll say that and then tomorrow, he'll say something positive. It's too overpriced as he said because he wants people to sell and start panicking so that he'll start picking those bitcoin in pieces at the cheapest possible price that it can with such move he create.

JP Morgan can come to me later this year and buy some bitcoins, I will help him get it at cheaper rates.

Seriously, what the heck overpriced is? Do you know when something becomes overpriced then peeps start to look the other way and find another investment. Have you ever seen someone stating that Tata Group shares are overpriced? Or do you see someone stating that oil shares are overpriced. Oh dam, everyone is actually happy when the prices go off the chart. Because everyone wanna make the profits!

JP is just missing the train and he needs to fill his bag anyways. He thinks he can impact the market like the way Elon musk does. His living in his dreams. Lolz

Those who think bitcoin is over-priced does not have complete knowledge about the bitcoin. Other then supply/demand the fundamentals of bitcoin is too strong and limited supply make this a very valuable currency. I think the prices for bitcoin like 50,000 or 60,000 are low - priced as in coming days we will not get the opportunity to buy bitcoin under 100,000$.

Every JP Morgan analysis about Bitcoin is basically a joke.I don't want to bother analyzing this "analysis".
What do they mean,by saying that the Bitcoin price could reach 73K USD,if the volatility of Bitcoin drops?
Can the price volatility of Bitcoin be lowered by something or someone?I don't think so.
The price volatility is what makes Bitcoin so "sexy" for the risk loving speculative investors.
Turning Bitcoin into a stablecoin would kill all the advantages of Bitcoin and make it as boring and useless as a "financial junk".

They do know what they did and what they are doing. Their statement is to FUD the market. We don't know what they did behind the scene. 4 years and they changed from a fraud accusation to accept Bitcoin. Months later they return to FUD Bitcoin again. They are dishonest with what they are doing and what they think.

They can do this because of themselves or they do this because of pressure from government. We don't know this but fact is why Bitcoiners have to care of governments. We can have our own banks with Bitcoin.

If JP Morgan did it because of governmental pressure, they are not real bitcoin maximalist.

Defiantly they can't be trusted since their playing area is not crypto but what you mentioned. We saw similar news from Warren Buffet, he is beyond any doubt one of the greatest investor of all time but his playing area is Equity trading that's why he doesn't like crypto. They are the people who said BTC is a scam and must be avoided, they will keep on saying bad about BTC. Its the responsibility of the community not to pay attention to such negative news.

Bitcoin users who are not new to the network and understand it wouldn't be worried about the FUD or what other people say about the network, the people I'm actually concerned about is the newcomers and individuals who want to adopt the technology, they are more often than not deceived by most of the erroneously placed news on the media about Bitcoin; that's the reason why it's always advised that one does his or her own research before joining the network, if you are expecting one so called 'expert' or the other to drop their opinion/perception before you make a decision, then you're must likely going to make a mistake.

JP Morgan's cost projections are based upon an assumption that inflation will be short term. Eliminating both the need and demand for inflation protected assets like bitcoin.

If their assumptions on inflation being short term turn out to be incorrect however. Their cost assessment of bitcoin, will be thrown into doubt.

Future cost projections always stand or fall upon the foundation of assumptions upon which they are based. Inflation being short or long term, factors heavily into what bitcoin's market value should be.

Market behavior being based upon brownian motion was blamed for projections not predicting the 2008 economic crisis. Their accuracy can always be questioned. There are historical precedents which indicate this.

We have to know by this time that cryptocurrency especially bitcoin have a particular group of people that always castigates and antagonist it's development Everytime, and we have grown enough not to listen into all their false information people are rendering to people, JP Morgan's never one day believe  or support bitcoin in any form likewise Elon Musk, so i classify this set of individuals as bitcoin opposer or antagonist and we don't have to regard their public announcement concerning bitcoin as a something new, because it's not the first time and it can never be the last they will are procrastinating or spreading negativity about bitcoin.

My theory is the more FUD they spread, the more they can attract naive investors away from crypto and shift the market downward which would take away the institutional investors away from crypto, which is their target market. JP Morgan doesn't care what some 23 year old Robinhood investor thinks about Bitcoin or where they store their money in particular, but multiply this individual by hundreds of thousands, or even more, it has a large effect on the market. The institutional investors will follow the money, not that they care about the technology related to crypto or its decentralization, but to each their own.

 ;D  It's a never ending story with JP Morgan.. They always sell fake news. I have been observing their predictions for several years. Actually, since they first said something about Bitcoin, it was obviously negative predictions, just like it is now. In 90% of them they are opposite to what happens next.
If JP Morgan says Bitcoin will never reach $100k, at this point I am 100% sure that $100k will be achieved and it will happen quite soon.

This is what im saying is that people could change up their minds and impressions towards the market and it is somewhat a bit manipulative kind of behavior on which they do tell negative things first and then sudden change  on positive.

Now their talking about being digital gold? What a turn of words. Wont really be surprised if they would revert those words back and said
negative ones again.

That's correct. I'd say that it's in the job description to declare things in accordance with the company's current direction. They were against bitcoin in the past, they may be against bitcoin in the future. Now bitcoin brings them revenue, hence they speculate it will rise.

there is a possibility that JP said that he intends to add BTC but the price has reached 60k and he hopes that btc returns to 35k in order to increase their BTC stock
as there is btc has a fixed stock so to experience a price drop is only bad news or a mass ban in every country
and I think it's also a natural thing if the value of btc reaches 100k later because many want to own bitcoins and owners also want to benefit from their results

While I agree with him, I would say that the people who make predictions or state this kind of opinions under their famous name are just speculative persons who only care about their finances and try to manipulate the price of their assets/positions via you.
Bitcoin doesn't really need 30K price, it can perform well between 15-20K range and I believe after the crash, we will see this price again like we saw 3K after the crash from 20K. It's another task whether bitcoin reach 100K or not. Yeah, it's overpriced but it doesn't mean that there aren't people who won't buy it for 100. From the society that made dogecoin to worth almost 1$, nothing is unexpected.

Nothing is impossible if the price of BTC reaches $100, day by day more and more people are buying and using BTC to trade and invest. Massive adoption of Bitcoin because Bitcoin has very profitable uses such as, as a means of payment, investment, trading. The number of bitcoins is limited, which is only 21 million Bitcoins, many people think that the price of bitcoin will continue to rise from year to year because there is too little supply of Bitcoin.

Honestly, a lot of analysts including these big name banks are as absolutely clueless as the rest of us when it comes to predicting the trend or direction of bitcoin over any period of time. It has proven that it is nothing like a company, where they can evaluate all sorts of information like margins, profits, new products, etc. and it is more like a commodity that is moving wildly but has great universal demand. It's also worth noting that these very banks are late to the part in many cases, so it would highly benefit them to be able to stock up on Bitcoin at lower costs to push it back on to their very high net worth clients who are probably seeking exposure to crypto a lot at the moment.

Would be always on simple economics subject in regarding about the law of supply and demand which it is very normal that price will eventually bloat out but will vary on the demand we are seeing and considering that bitcoin does have limited supply and the demand is high then we would really be seeing those numbers and it would really be just depending or in matter of time on when it would happen and lets not remove those possibilities
and its better not to be that optimistic or hopeful because anything could happen along the way.

Totally agree useless coin with ridiculous high fees

Then why you are here on this forum btw or in the first place?

High fees you do say? Check out https://mempool.space/

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Let us say it is like this head of Windows phone back in the day he was treated of iPhone I forgot what he said but from what I understand he was expressing windows phone was chipper and affordable than iPhone. Plus the exact thing he did was make their business flop despite that he did everything he could to save the company and the 2017 windows phone is dead.

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https://www.theverge.com/2017/10/9/16446280/microsoft-finally-admits-windows-phone-is-dead
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Joe Belfiore's interview/negative speech threatened of Appple= Windows phone is dead.


I could not find the source of the interview on what was asked exactly to Joe Belfiore for you all to understand. Still, My point here is if this JPMorgan Chase & Co talks about bitcoin and said "terribly overpriced" he might regret it years later like Joe Belfiore.



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I'll update if I found the source of the interview which for me it could happen to and the same with JPMorgan.

if the normal price of bitcoin is $35k, it means that now be prepared to experience a drastic decline. For me, it is permissible to express an opinion or analysis, but if our opinion or analysis is wrong, we should accept it. And I think bitcoin will be more than $100k later, because the positive trend is growing, even the latest news, China will withdraw its decision to ban bitcoin, they will allow bitcoin to be used in their country. that's a good news isn't it..!!

A while ago it came to light that the recommendations banks publish on a daily basis actually exactly plays into the strategy of their own portfolio. So if JP Morgan goes short on Bitcoin because they want to speculate on falling prices (doesn't mean they don't believe in Bitcoin long-term), their agenda is crystal clear right? They are going to tell the people this thing is overpriced. And then when they cash out on their short position, they'll probably let everyone know that it is soon time for another bull run.

It was the one of the first crypto currencies invented doesn’t  mean it’s the best, it’s all speculation and hype which is pushing the price up. Jp Morgan are right overpriced outdated coin with high fees , useless for micropayments etc.

so this spread of statement from JP Morgan is the reason for the decline to reach 70k? does this released is the start of falling market as the 2022 near to come?

Lol it is not the best? please extend explaining why ? do you really understand the meaning of BEST in cryptocurrency?

They have been playing these mind games from long time and when they see they can't stop btc they also jump into providing bitcoin service to clients and there are many more like them who will issue such changing statements and then will accept Bitcoin so don't worry about them.Btc is soon going to new ATH and these statements don't stop it.

Bitcoin cannot be overpriced, since its quantity is constantly and strictly limited, it is not subject to inflation. Its price will fluctuate over a short period, but over a long time period, it will only grow.

It's true that quite a lot of people were initially negative about Bitcoin, then changed their minds after seeing the very rapid development of Bitcoin.
So don't be surprised if JP Morgan can go from being a Bitcoin hater to a Bitcoin supporter, because JP Morgan probably now realizes Bitcoin is
too strong to be dropped, so if it can't beat Bitcoin, why not try to join, that's what JP Morgan is doing right now. The conclusion is that as long
as we are not affected by the circulating FUD and have confidence in the future of Bitcoin, it means we are on the right path. Since it's impossible
to get everyone in the world to like Bitcoin, there will always be Bitcoin haters, so don't worry if Bitcoin haters try to stop Bitcoin, because
Bitcoin is unstoppable. Bitcoin price will continue to rise creating another new ATH.

One man's food is another man's poison, as commonly said. I don't know or ever believed Bitcoin is overpriced, the English self weak me and I am wondering what comes about all this overprice of a thing in the first place for people like me I know I will witness Bitcoin at $60k and won't regret any thing

Nice you looked this up and posted these two articles, exactly this contradiction is on my mind all the time whenever I read the name Jamie Dimon or JP Morgan Chase. I always have to think about the shit that Dimon talked about Bitcoin just to revoke everything by his actions alone shortly after. It is a strategy, there is no doubt about that.

That would never happen, JP Morgan would never support a decentralized system, lol. I believe JP Morgan himself has benefited by investing in Bitcoin and that is why he tries to keep up to date on Bitcoin. I think, the issue of official Bitcoin adoption by ministers from around the world may be bothering him, so he may be worried about the existence of his banking business. When the price of Bitcoin went up to $19K in 2017, some people said that it has become overpriced. By creating these FUDs, it is no longer possible to cover up the truth.

Totally agree with what you said, the corruption in banks has spread to small banks in remote areas like mine, and I (if I could) have forgotten their existence and stopped using their services, but unfortunately I have not been able to do so.
I think by owning Bitcoin and using blockchain, even though it is small, this already represents my protest against the bank.

Definitely overvalued  ;D

What kind of corruption you are talking about?

It's only called corruption if they don't follow the law and their rules? if not, then there's no corruption happening.
That's a wild accusation, in fact, banks are regulated and they follow the rules, while blockchain promotes anonymity which the government is afraid that it could be used for illegal transactions.

Just to be clear, I'm not anti-crypto, I'm just saying what I know based on my experience as a banker.

Bitcoin ain’t backed by anything only hype 

You have posted severally here in this thread and obviously you are anti Bitcoin , so Mind if you share which Altcoin is best to purchase since bitcoin isn't that good for you?
will be much appreciated if you do share thanks.

Yes it is, because even though JP Morgan releases this statement yet Bitcoin price is holding above 50k means what? this isn't overvalued ?

They always have their two cents with bitcoins. of course, it's not, the more the price the more we see good news about it. Their comments won't add anything at all especially those critics who don't have anything good to say about bitcoins. The price will continue to rise from now on after a few declines because we are not on the same boat as we are in the past. things are working out with bitcoins nowadays from a county that implement it to some of the known companies who wanted to innovate their services with it.

Don’t trust what big corps say regarding investments, especially financial ones. They don’t care about you, they don’t want the little guys to do well. 

Jpmorgan has to keep credibility in check, they’re right Bitcoin is overvalued,

These firms will create fear to the normal investor and they take advantage of the situation they created. JP Morgan is notorious for doing this for a long time and we are still discussing what he is telling every month and there is no point in talking about him as he will always say one thing and behind the scene will invest in them.

We should start ignoring people like these to have a say in the cryptocurrency space.

100% on this, they will always find way to discourage the increasing market of crypto just to favor their interest .
they will never let us rich unless they will be the first.

Thanks for this enlightenment mate very worth to believe .

Bitcoin's benchmark is the sum of global wealth. That is, the value of 1 Bitcoin is 1/21,000,000 of human wealth. So this is still far from reaching the design goal.

I suppose that the Bitcoin is really overpriced and the reason for this may be the economic situation in the US and in the world in general. Just look at the stock market. There you will also see an overheated market. There is nothing surprising in this. These are the consequences of printing and distributing unsecured money. You've probably heard about this more than once already.

Like them and for those who never support and hate Bitcoin will simply think it was overpriced and tend to discourage people by investing in this. Not new to this issue and they found it wrong.

The more they talk negatively about Bitcoin, the more it increases interest and demand from the community. It was likely it helps to build curiosity and turn to trust.

But for now, I don't stop assuming that JP Morgan has also invested in Bitcoin. Many rich people got this and they just keep it silent and anonymous as their plan to manipulate the market by simply throwing negative to dump the market price and take advantage of them.

Some of them turns or looks to be bearish but on the fact they are secretly accumulating behind the curtains which do really sucks big time because even we do say that we shouldnt really take notice of these sentiments but there are noobs or new to this market do really make out such bad impression whenever they do possible read this up thats why we should really make out our own decisions basing on what we are seeing on the market.
We do able to identify out that theres so much potential into this place or thing.SO theres no need to worry honestly.

don't overdo it, bitcoin that's not all you're saying

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well about the price of $35000, i don't know how these analysts got to that price so it's hard to try to disprove them, but in my opinion i think it's exaggerated, the price could be were at some level much higher than $35000

When specialists from JPMorgan announce something like this, they do it not so that other investors earn, but so that they themselves can earn on it. In my opinion, they were planning a large Bitcoin purchase and did not want to raise the price too much or just wanted to lower the price to buy cheaper.
JPMorgan's news about Bitcoin has not yet come true, and it is rather the opposite of what they announce.

I don't pay fees when I send wrapped BTC on Tron.

So sometimes I buy one Satoshi for the fun of it. Also no fee's on swap. And it has close to no minimums.

Stake and vote for SR pays.

i still remember there was news that said that the price of bitcoin at $50k was too high and would never be able to pass it again but in fact it wasn't.  i appreciate all the predictions but the current bitcoin price i'm sure it's still not much, bitcoin will pass $100k.

Get some perpetual on and buy at any price.

Bitcoin's price is definitely not overpriced, and JPMorgan simply arrange a game with investors.
I also think that the price of $100K will be achieved by Bitcoin very easy, and I think even that it will be much higher.
Since the popularity and adoption of Bitcoin are still growing, this is quite normal that with limited supply the price must grow. JPMorgan know that very well and they simply are joking.

People like Jp Morgan only care about themselves and their wealth. They have no interest in the public. They often come up with these statements to remain popular in the public and also this make them feel good when people are talking about them.
Simple answer to them is that bitcoin is not over-priced because it has fixed supply.

With JP Morgan, I believe there’s a conflict of interest. Even if his analysis is right, which I still doubt, I won’t still believe him completely. For me, this is just a speculation.

as long as there are those who want to buy and as long as there are those who want to sell, then price volatility will form. when demand is high and supply is low, the higher the price is unavoidable, because there are still people who want to buy at that price. people may assume, but the strength of practice in the field will answer it

Me personally think that not only BTC is overpriced, but all markets in general. Although it is pretty easy to see how this is possible. With all the moneyprinting people have to much "money". A few way more then the rest of us ofcourse :).

Time will tell what will happen, intrest rates go up markets will crash including BTC, moneyprinting continues, markets will go a little longer higher and then crash even harder. Either way it's No Bueno!

I am surprised that they value BTC so high as 35k$, for me, this is a bullish sign. Keep in mind, that they didn’t want to have anything with BTC back in 2017 and it still reached 20k, now they actually acknowledge it, they somehow value it just 15k$ more.
For me they are full of crap and probably trying to lower the price so they can jump in before it gets too high, we all know crypto doesn’t follow classic and predictable movement.

No they are not valuing bitcoin so high at 35k instead JP Morgan think that 35k is the legit price of bitcoin now and not that 50-60k .
Who are they?  for Bitcoin Holder and believer there is nothing impossible to achieve , and if you are pointing  to those who oppose? then expect nothing from them but negativity .

actually i believe that those people are the one who wanted bitcoin price to drop so they can purchase in discounted value .

I am old enough to remember when JPM told everyone ZERO was the right price.

People who have panicked because of their lack of experience in the crypto market only make rash decisions by selling their assets, while on the other hand, people who understand investing and are already rich with their investment returns take the opportunity and opportunity for panic prices.  What to avoid ya FOMO.  News like this is normal, and I don't think it's fundamental as anyone can assume.

I am already fed up with seeing stories like this where some analysts will be telling me that Bitcoin is worth more than what it should be. If Bitcoin isn’t meant to be worth what it is right now, then why is it still at that value and has even remained stable at that rate without falling? Majority of us, including me, have thought that by now the price of bitcoin would have gone down.

I was thinking that by now the price of bitcoin be as low as $25000, instead the price has kept moving up and has still maintained its high value of over $50,000 and sometimes $60,000. So if a lot of feared it would drop, but it still never did, then tell me why anyone would say that it should be worth less than that?

That's exactly what I was thinking. You really can't assume that JP always values normal currencies or companies correctly. Self-interest always plays a role here, too. JP probably also simply does not want BtC to have the corresponding value.