JP Morgan believes Bitcoin is Overpriced

[Blawpaw]

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?

 

[1713515011]

1713515011

[1713515011]

1713515011

[Gyfts]

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.

[ChiBitCTy]

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.

[Pffrt]

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   Think from that point   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.

[virasog]

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?

 

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.

[Charles-Tim]

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

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.

Take bitcoin, an asset the JPMorgan team views as a competing investment for gold. With the coin’s volatility roughly four times that of the precious metal, the firm’s model puts its fair value at around $35,000. Should the relative volatility get halved into next year, then a price target of $73,000 “seems reasonable,” the strategists said. The coin traded Tuesday as high as roughly $64,300.

“This challenges the idea that a price target of $100k or above, which appears to be the current consensus for 2022, is a sustainable bitcoin target in the absence of a significant decline in bitcoin volatility,” the strategists wrote. “Digital assets are on a multiyear structural ascent, but the current entry point looks unattractive.”

[NeuroticFish]

What do you guys think about this?

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. 

[avikz]

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.

[DarkDays]

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.

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!

[Blawpaw]

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.

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.

[hd49728]

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

[coupable]

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

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.

[Jawhead999]

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.

Source https://8marketcap.com/

[dothebeats]

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.

[Similificator]

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.

[Ararbermas]

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?

 

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..   please ignore them. Lol

[Ucy]

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

[buwaytress]

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 if it manages to reduce volatility by 6 times.

[taufik123]

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.

[kryptqnick]

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, money laundering, and I think they'll get away with yet another case of money laundering just because of how rich and thus powerful they are.