JPMorgan sets Bitcoin Target to $130K Predicting Strong Institutional adop.

[kryptqnick]

I don't like JPMorgan as a greedy privileged institution, and I don't trust their "analysis" and predictions. In 2017, their CEO called Bitcoin 'a fraud' and said that those trading cryptos are stupid. Then in 2019, they made their own centralized "cryptocurrency". Following the bullish trend, they said less than 3 months ago that Bitcoin can reach $650k. Now they're backing off a little and talking about $130k as the op suggests. Their predictions are very different and tend to change pretty fast, and given how just a few months ago the CEO again said Bitcoin wasn't "his cup of tea", I don't trust them at all.

[DarkDays]

2-they do not consider that in a digital economy, it is easier to acquire and hold Bitcoin than it is to buy physical gold. Therefore bitcoin has a market value potential that can exceed gold many times over.

Fair point but... gold is used not only as safe haven but also in jewellery, Electronics.

I think they also did not take "lost bitcoins" into consideration. I bet that bitcoin is now deflationary. Currnt inflation after fork is only 1.6%. Most likely the amount of lost bitcoins is bigger than 1.6% of supply annually.

Fair point! And with so much of the supply already lost, plus the ever increase in BCT curiosity not only from the common Joe but also from larger entities, no doubt the BTC market will have yet another impressive unprecedented movement. In the good way - that is.

So, it just seems that it has never been a better time to get into BTC than now, when you start seeing the larger institutions preparing the ground work for greater adoption.

[Lucius]

I don't like JPMorgan as a greedy privileged institution, and I don't trust their "analysis" and predictions.

Privileged in what sense? They are just part of a system that is greedy by nature, and generally doesn’t choose ways to make a profit. The fact is that they have been negative about Bitcoin in the past, but it is also a fact that they have changed their minds, some people just need more time to understand, but I think everyone deserves a second chance.

What would you tell then about Michael Saylor who was extremely critical of BTC in the past and now has billions of dollars invested in it? I know people like to attack banks and that's quite understandable, so JPM is often mentioned in a negative context - but you have to understand that their speculations and reports are aimed at big investors who, unlike you or me, appreciate and listen to advice from such a powerful bank.

Therefore, it is less important what small investors think about their position, but it is much more important how many billion dollars flowed into BTC because JPM has had extremely optimistic reports for the last 6 months.

[Slow death]

What are your thoughts?

I did not read this article, so I will ask the following question:

did they say in what year the price will reache $130,000?

now i will say what i think:

well they have a lot of money right? they may have bought bitcoin and so they need the price to increase a lot in order to make a profit.

truth is that people are making forecasts because they want more people to enter this market for the price to increase and those who made the forecast to make a profit and also try to gain attention

wonder if JPMorgan can get their prediction right? this bring with more exposure for them, in the end bitcoin is being a way to make the rich get richer and more popular

[Kemarit]

^^ Good question, maybe JPMorgan and their clients have been filling their bags, I wouldn't be surprised if they have bought it when the price hits $4,000 during the pandemic, stay quiet and under the radar and then wait for the perfect timing to create a positive news and their prediction that it will hit $130,000,000 in the future due to institutional adoption. Very clever trick again, but we can ride along and make the best out of it.

[LUCKMCFLY]

I have always had a neutral thought about JP Morgan, at the beginning in 2017 he did a lot of FUD to bitcoin, in fact the statements he made at that time were very against Bitcoin, now what he does is recommend that they buy Bitcoin, which is not wait for institutions to buy for others to buy, that's why my neutral sense.

The control that JP Morgan has over banking activity cannot be denied, in fact many banks in the world are managed by JP Morgan, sometimes I see that it is opportunism not to be left behind and little by little integrate Bitcoin to the banking system, this would bring Much advantage for him since he would own Bitcoin holders along with their data, not a good thing, because he would try to take some control, and bitcoin is totally decentralized and with enough power not to be controlled.

The fact that he now makes a prediction of that style can be strategic, from the point of view of market speculation I do not like it, because it tends to be good news, and generally good news means that he wants to sell, I think the best is to wait and be aware of world news, not only are his predictions valuable, I prefer the S2F model from PlanB which is much better.

[thecodebear]

My thought it that JP Morgan doesn't have a better idea than anyone else. They're just guessing, and most of the time when it comes to Bitcoin, legacy finance analysts don't have a clue what they're talking about. I wouldn't put any more weight in anything JP Morgan says for predicting price than I would some random guy off the street. I mean $130k is a pretty good guess I'd say, if they are talking about this year, but knowing them next month they'll be saying bull market is over, and the month after that they'll be saying $200k and the month after that they'll say it's over again.

[pooya87]

What are your thoughts?

I think you should both stop reading and also stop reposting the crap that one of the most corrupt banks is saying about bitcoin specially when you consider that they have been spreading a lot of FUD about bitcoin both directly and indirectly calling it so many negative things including "fraud"!

Always remember that just because someone is saying bitcoin price is going up you should quote them. Remember McAfee in 2017 and how many people he scammed with his ICO ads and altcoin pump and dumps? People paid him attention just because he was saying "bitcoin price is going up"!

[freedomgo]

Remember McAfee in 2017 and how many people he scammed with his ICO ads and altcoin pump and dumps? People paid him attention just because he was saying "bitcoin price is going up"!

Only legend knows! lol.. I'm a living witness of McAfee's scam action during that time most particularly the coin of the day where he can call any coin to pump and people just follow, for sure lots of bag holders that time and I don't know if those coins have recovered during the current bull run.

[MCobian]

We know JP Morgan's track record before adopting Bitcoin, they often spread negative things about Bitcoin. Now suddenly predicting Bitcoin price will
hit $ 130k soon, this is JP Morgan's hidden agenda. Chances are they have already bought large amounts of Bitcoin and want to create Bitcoin
hype because they want to make a profit. I never paid attention to whatever JP Morgan said, my view was already bad towards JP Morgan.
So please JP Morgan to set a Bitcoin price target at any price, I don't care and don't believe it.

[fullhdpixel]

We know JP Morgan's track record before adopting Bitcoin, they often spread negative things about Bitcoin. Now suddenly predicting Bitcoin price will hit $ 130k soon, this is JP Morgan's hidden agenda. Chances are they have already bought large amounts of Bitcoin and want to create Bitcoin hype because they want to make a profit. I never paid attention to whatever JP Morgan said, my view was already bad towards JP Morgan.
So please JP Morgan to set a Bitcoin price target at any price, I don't care and don't believe it.

That was always the case, never ever doubted about that fact and I agree with it 100% completely. I knew that JP Morgan never really assumed that bitcoin would be nothing, but they talked about like how it is something that will go to zero, why? Because, if everyone goes into bitcoin and they are left behind and not invest their money with JP Morgan that would be bad for their business so they ended up talking about how bad bitcoin was in order to keep their customers.

Now that they probably have a lot of bitcoins that means they are going to promote it, why? Because, even if you want to go into bitcoin you could simply do that with JP Morgan and tell your broker there to get some bitcoins for you, which is why JP Morgan no longer will be affected by a big mass adoption of bitcoin. They only say what will profit them and that is why they are not trustworthy.