Though Jpm Sees The Possibility Of “Current Speculative Mania” Propelling Bitcoin To Between $50,000 And $100,000, It Warned That Such Levels Would Prove Unsustainable Until Its Volatility Levels Out.
Jamie dimon says bitcoin is 'a little bit of fool's gold' published mon, oct 4 2021 11:43 am edt updated mon, oct 4 2021 1:52 pm edt taylor locke @itstaylorlocke Jpm strategists said the upside is conditional on the volatility of bitcoin converging with that of gold in the longer term. Bloomberg reported that jpm strategists.
Jpmorgan Said Bitcoin Could Rally As High As $146,000 In The Long Term As It Competes With Gold As An Alternative Currency.
Jpm strategists said the upside is conditional on the volatility of bitcoin converging with that of gold in the longer term. Though jpm sees the possibility of “current speculative mania“ propelling bitcoin to between $50,000 and $100,000, it warned that such levels would prove unsustainable until its volatility levels out. Jpmorgan’s announcement came after a team of analysts at the firm’s global markets strategy group touted bitcoin as an alternative investment to gold among millennials, suggesting that bitcoin.
Though Jpm Sees The Possibility Of Current Speculative Mania Propelling Bitcoin To Between $50,000 And $100,000, It Warned That Such Levels Would Prove Unsustainable Until Its Volatility Levels Out.
Millennials' embrace of bitcoin could see it crowd out gold in the long term, jp morgan writes. In november 2020, jpm experts predicted that the competition between bitcoin and gold could lead to a 10x increase in the price of the primary cryptocurrency. Bitcoin’s “fair value” based on its volatility in comparison with gold (roughly four times as volatile as gold) jpm strategists calculated the fair.
Investment Bank Jp Morgan Analyst Nikolaos Panigirtzoglou Has Calculated Bitcoin's Fair Value Based On Its Volatility In Comparison With Gold (Roughly Four Times As Volatile As Gold).
In contrast, gold’s adoption by institutions is already “very advanced,” and if the trend continues in the coming years, “the price of gold. The virus crisis, by boosting money supply as well as demand for an “alternative” currency, has supported both gold and bitcoin over the past year. Jpm argued that the adoption of bitcoin by institutional investors has just begun, with the recent examples from the likes of paul tudor jones iii and hedge funds such as one river asset management.
Btc) Becoming Substitute Gold As A.
One way to play the theme is buying one unit of grayscale and selling three units of the spdr gold trust, the bank said. Jpm strategists said the upside is conditional on the volatility of bitcoin converging with that of gold in the longer term. Jpmorgan’s calculations suggest bitcoin only accounts for 0.18% of family office assets, compared with 3.3% for gold etfs.