JP Morgan believes Bitcoin is Overpriced

[qwertyup23]

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 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?

 

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.

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[cr1776]

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 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?

 

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.

[kanayaTabitha]

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

[jumpafrica]

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.

[BITCOIN4X]

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.

[fiulpro]

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 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?

 

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.

[Evgenklm]

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

[Fesatmas]

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.

[BlackHatCoiner]

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?

[Myleschetty]

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 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?

 

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 range.
Now they are saying it is overpriced, they just want to cause fud so that people can take profit.

[stomachgrowls]

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 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 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.

[omone1]

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.

[Fortify]

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.

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.

[Wysi]

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.

[OgNasty]

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.

[lalabotax]

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.

[Kemarit]

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 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?

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.

[kawetsriyanto]

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.

[Twinkledoe]

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.

[milewilda]

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 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?

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.

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.