The fair price of bitcoin is at $38,000, and cryptocurrencies have overtaken real estate as one of the preferred “alternative assets”. Writes about it business insider with reference to the analysts of the financial holding JPMorgan.
At the time of writing, digital gold is trading near $29,600. The fair price named by experts is 28% higher than the actual one.
“Last month’s cryptocurrency market correction is more like a capitulation compared to the situation in January/February 2021. Going forward, we see upside potential for bitcoin and the cryptocurrency market as a whole,” JPMorgan said in a note to clients.
Holding analysts, including Nikolaos Panigirtzoglou, noted that during the correction, the digital asset market suffered more than other “alternative investments” like real estate. In their opinion, this indicates the possibility of growth.
In February 2022, Panigirtzoglou already stated that the fair price of bitcoin is around $38,000. Then digital gold was trading near $43,400.
In April, JPMorgan CEO Jamie Dimon recognized the value of blockchain technology and DeFi applications.
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