JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around)

[TheCryptocurrencyPortal]

Interesting info. What do you think? BTC

JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around)
https://www.youtube.com/watch?v=O-sQJPC0n2E&feature=youtu.be

[electronicash]

it was posted last 28th where the coins spikes as well. good to know. i would really be laughing if its Jaime that speaks there on TV but of course just like Warren they wouldn't admit they themselves are collecting BTC.  the only reason they'd be bullish today is sure because they have already collected a stash since the start of their campaign to spread fud.

[Twinkledoe]

it was posted last 28th where the coins spikes as well. good to know. i would really be laughing if its Jaime that speaks there on TV but of course just like Warren they wouldn't admit they themselves are collecting BTC.  the only reason they'd be bullish today is sure because they have already collected a stash since the start of their campaign to spread fud.

Those people sometimes we don't know what really is in their minds, and most of the time if they say something, we know there is hidden agenda about it. And of course, it is favourable on their side. With the change of stance towards bitcoin, I believe he is now a big holder of bitcoin. 

[pakhitheboss]

Other banks will also follow soon.

They were going to say that long back but, could not because of the fear of losing financial authority. Now they know they cannot, hence use it for their own financial benefit.

I am only waiting for mainstream media now to declare Bitcoin is not a Ponzi scheme.

[squatter]

It isn't a huge turnaround. The author of the report, JPMorgan analyst Nikolaos Panigirtzoglou, has been tracking and reporting on Bitcoin's "intrinsic value" -- essentially marginal mining cost -- for at least a year. He has long maintained that gaps between marginal cost and price can be resolved either by a change in price or a change in marginal mining costs.

Noticeably, the hash rate fell 6% since the halving and is expected to fall another 6% or so next week. This means the "intrinsic value" of a bitcoin is declining, and may continue to decline.

[AmoreJaz]

It isn't a huge turnaround. The author of the report, JPMorgan analyst Nikolaos Panigirtzoglou, has been tracking and reporting on Bitcoin's "intrinsic value" -- essentially marginal mining cost -- for at least a year. He has long maintained that gaps between marginal cost and price can be resolved either by a change in price or a change in marginal mining costs.

Noticeably, the hash rate fell 6% since the halving and is expected to fall another 6% or so next week. This means the "intrinsic value" of a bitcoin is declining, and may continue to decline.

and he realised that if he cant beat btc, better join the pack. for sure, he's been following the btc market for quite some time already and only a matter of time when to say this statement. what are the odds that he's been secretly collecting stash of btc and other alts for the past years???

[Darker45]

JPMorgan has already started to turn around years ago. Their conversion is gradual, though. So this is not a huge move anymore. Their controversial CEO once publicly decried crypto, only to launch its own a year or so later. And then, just recently, they opened their doors to cryptocurrency businesses, accepting two of the largest names in the space: Coinbase and Gemini.

I guess this realization of undervalued Bitcoin is coupled with the realization of overvalued fiat.

[davis196]

Interesting info. What do you think? BTC

JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around)
https://www.youtube.com/watch?v=O-sQJPC0n2E&feature=youtu.be

The opinion of JP Morgan towards Bitcoin and cryptocurrencies in general isn't relevant anymore.
They are constantly trying to spread FUD in order to lower the Bitcoin price,so they could secretly buy some cheap Bitcoins.Banks like JP Morgan,Goldman Sachs,Citibank,Bank of America are well known for manipulating any market they are in.I wouldn't trust the analysis or opinion coming from any guy that works in those banks.
They are a bunch of liars and hypocrites.It would be great if we just ignore all the Bitcoin news coming from such banks.

[sheenshane]

IMO, JP Morgan sees Bitcoin as a competitor for its decentralized value which if global adoption happen it can definitely shut down their business. I'm pretty sure that they have Bitcoin as well but we just need to understand them that they are only saying these things maybe because they need to hold on the business protocol.

In the future it will be chaotic to bank industries if people continue to adopt and embrace Bitcoin for their daily transaction for everyone will start pulling out their savings in the bank and invest it in Bitcoin instead and no bank will never want that to happen, this could be the reason they are telling this rubbish statement.

[Lunatic_Pandora]

JP Morgan has been flip-flopping opinions for years on cryptocurrency, just like all the other centralized institutions.

Maybe sane minds on the inside finally managed to get them to buy a massive chunk of BTC, and NOW that they are holding, they claim it's undervalued to pump their bags.

[boyptc]

They were anti-bitcoin before and says that it's a fraud.

Who else is imagining that the Goldman Sachs statement will also be turned like this?

[cabron]

They were anti-bitcoin before and says that it's a fraud.

Who else is imagining that the Goldman Sachs statement will also be turned like this?

I think Goldman Sachs had been bullish about BTC for a long time ago. I can't remember them telling bad things about BTC though. But I have heard of them investing to BTC. The money of institutions is coming but its not yet very obvious, they are probably buying bits by bit and until one of them executes a very big amount of buy order the climb of the price may be slow.

[LogitechMouse]

I still remember when this stupid bank owner is spitting useless criticisms regarding Bitcoin. It was 3 years ago.

Now he is doing the opposite already and added a Bitcoin Exchange in their banks. I know that some are happy that a huge name is supporting Bitcoin but if you will remember the things he said last 3 years ago then you might feel frustrated too.

Anyway it happened already. We have nothing to do right now but to be happy that a popular name is supporting Bitcoin. I just hope that his support will be long term and he isn't just supporting it because of the pandemic.

[Haunebu]

In the future it will be chaotic to bank industries if people continue to adopt and embrace Bitcoin for their daily transaction for everyone will start pulling out their savings in the bank and invest it in Bitcoin instead and no bank will never want that to happen, this could be the reason they are telling this rubbish statement.

I disagree. The reverse could happen. Banks could provide crypto like BTC etc as alternate payment options which would be mutually beneficial for both crypto and the banks. This is the best case scenario in my opinion.

Anyway it happened already. We have nothing to do right now but to be happy that a popular name is supporting Bitcoin. I just hope that his support will be long term and he isn't just supporting it because of the pandemic.

You can never expect a firm like JP Morgan to keep their promises in the long term. It's good that they are supporting crypto currently, but history suggests that they flip-flop a lot like you mentioned.

[Bttzed03]

~ the only reason they'd be bullish today is sure because they have already collected a stash since the start of their campaign to spread fud.

Just recently, we've seen reports from Goldman & Sachs saying bitcoin isn't an asset class and not recommended for investment. Are they following the same playbook?

JP Morgan "shill" vs. Goldman & Sach "fud" soon? I hope we get to see it happen. That would be fun for sure.

If it happens....

[DeathAngel]

Wall Street wants bitcoin whether they admit it publicly or not. We’re going to the moon & there’s nothing anybody can do to stop it.

[Tipstar]

People may take time to realize how good bitcoin is but they'll realize it sooner or later. But every statement by these bankers needs to be looked with suspicion.
JP Morgan called bitcoin bubble, restricted his bank to work along with crypto. He eventually bought some cheap coins and now has changed his narrative of bitcoin as well policy of his bank. This person can turn anyway if he sold his coins in the future.

[Fundamentals Of]

I still remember when this stupid bank owner is spitting useless criticisms regarding Bitcoin. It was 3 years ago.

Now he is doing the opposite already and added a Bitcoin Exchange in their banks. I know that some are happy that a huge name is supporting Bitcoin but if you will remember the things he said last 3 years ago then you might feel frustrated too.

Anyway it happened already. We have nothing to do right now but to be happy that a popular name is supporting Bitcoin. I just hope that his support will be long term and he isn't just supporting it because of the pandemic.

First, Jamie Dimon, the man you're probably referring to, is not the owner. He is just one of the shareholders. He doesn't make the decisions on behalf of JPMorgan.

Second, it sounds a bit awkward to call a billionaire stupid. Even the brilliant boys like you and me haven't made a single million dollar yet. Incidentally, there are also people calling Warren Buffet stupid because he is not convinced of Bitcoin. I don't know which among us are the real stupid. Coincidentally, Warren also partly owns JPMorgan.

[GreatArkansas]

JP Morgan called bitcoin bubble, restricted his bank to work along with crypto. He eventually bought some cheap coins and now has changed his narrative of bitcoin as well policy of his bank. This person can turn anyway if he sold his coins in the future.

It's just selling the news for now, especially for those big players in the finance world now, like these kinds of bankers.
For sure, if they say some financial things especially about Bitcoin, lot of people will start become curious about it especially when he called before that Bitcoin is a bubble.
Also, we can't assure that he own some Bitcoin, but it doesn't matter at all.

Wall Street wants bitcoin whether they admit it publicly or not. We’re going to the moon & there’s nothing anybody can do to stop it.

It's too early for now for sure. I think it is also much better let's stop the hate on wall street even some of them hate Bitcoin, they are also a good factor on Bitcoin somehow.

[boyptc]

They were anti-bitcoin before and says that it's a fraud.

Who else is imagining that the Goldman Sachs statement will also be turned like this?

I think Goldman Sachs had been bullish about BTC for a long time ago. I can't remember them telling bad things about BTC though. But I have heard of them investing to BTC. The money of institutions is coming but its not yet very obvious, they are probably buying bits by bit and until one of them executes a very big amount of buy order the climb of the price may be slow.

I do remember that Goldman Sachs was favorable to bitcoin but there were a sudden drama and change of heart. See the old articles made.

--> https://www.bloomberg.com/news/articles/2019-08-12/a-goldman-sachs-analyst-is-bullish-on-bitcoin-but-is-goldman

--> https://learnbonds.com/news/goldman-sachs-recommends-investors-put-money-into-bitcoin/

On the other hand, the strategy that JP Morgan and Goldman Sachs is probably the same ploy.