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Bitcoin’s fair price is at $38,000, and cryptocurrencies have overtaken real estate as one of the preferred “alternative assets.” This is written by Business Insider with reference to 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.
Hourly chart of BTC/USDT exchange Binance. Data: TradingView.
“The correction of the cryptocurrency market that occurred last month is more like a capitulation in comparison with the situation in January/February 2021. In the future, we see growth potential for bictoin and the cryptocurrency market as a whole, “the note for JPMorgan clients says.
Analysts of the holding, including Nikolaos Panigirtsoglu, noted that during the correction, the digital asset market suffered more than other “alternative investments” such as real estate. In their opinion, this indicates the possibility of growth.
In February 2022, Panigirtsoglu already stated that the fair price of bitcoin is at around $ 38,000. Back then, digital gold was trading near $43,400.
Recall that in April, the head of JPMorgan Jamie Dimon recognized the value of blockchain technology and applications of the DeFi sphere.
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