JP Morgan believes Bitcoin is Overpriced

[NelfiNovita]

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?

 

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.

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[Fortify]

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?

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.

[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?

 

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.

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.

[ALLON2017]

Totally agree useless coin with ridiculous high fees

[Hamphser]

Totally agree useless coin with ridiculous high fees

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

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[Jaycee99]

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is 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?

 

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.

[diahsw]

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..!!

[dzonikg28]

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?

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.

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.

[ALLON2017]

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.

[btc78]

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?

 

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?

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.

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

[worle1bm]

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
to JPMorgan to give all wealth clients access to crypto funds

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.

[WButler89]

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.

[Shasha80]

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
to JPMorgan to give all wealth clients access to crypto funds

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.

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.

[bosede1]

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

[dzonikg28]

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
to JPMorgan to give all wealth clients access to crypto funds

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.

[kro55]

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.

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.

[lenovop-70]

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.

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.

[ALLON2017]

Definitely overvalued 

[Maslate]

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.

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.

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.

[ALLON2017]

Bitcoin ain’t backed by anything only hype