{"id":4426,"date":"2022-05-25T19:17:19","date_gmt":"2022-05-25T19:17:19","guid":{"rendered":"http:\/\/cryptoheretostay.com\/?p=4426"},"modified":"2022-05-25T19:17:19","modified_gmt":"2022-05-25T19:17:19","slug":"jpmorgan-places-btc-fair-price-at-38k-declares-crypto-a-preferred-alternative-asset","status":"publish","type":"post","link":"https:\/\/cryptoheretostay.com\/?p=4426","title":{"rendered":"JPMorgan places BTC fair price at $38k, declares crypto a preferred alternative asset"},"content":{"rendered":"<script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"crypto\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script>\n<p>JPMorgan has placed Bitcoin\u2019s (BTC) fair price at $38,000, which is 28% higher than its current level of around $29,500, according to a note to clients the bank issued Wednesday. \u201cThe past month&#8217;s crypto market correction looks more like capitulation relative to last January\/February and going forward we see upside for bitcoin and crypto markets more generally,&#8221; the note said. Bank strategist Nikolaos Panigirtzoglou was the lead author of that document.<\/p>\n<p>A bank investors\u2019 note placed Bitcoin\u2019s fair value at the same level in February. It was trading around $43,000 at that time.<\/p>\n<p>Crypto has surpassed real estate as a preferred \u201calternative asset\u201d for the bank, along with hedge funds, the note continues. It said:<\/p>\n<p>\u201cThus far there is little evidence of VC [venture capital] funding drying up post-Terra\u2019s collapse. Of the $25 billion VC funding year-to-date, almost $4 billion came after Terra. Our best guess is the VC funding will continue and a long winter similar to 2018\/2019 would be averted.\u201d<\/p>\n<p>VC funding would be critical to avoiding that crypto winter, it added.<\/p>\n<p>On the same day, major venture capitalist Andreessen Horowitz\u00a0announced the closing of its fourth cryptocurrency fund at $4.5 billion. Also on Wednesday, Crypto-focused venture firm NGC Ventures launched its third blockchain fund with $100 million raised from investors that included Babel Finance, Huobi Ventures and Nexo Ventures.<\/p>\n<p>JPMorgan CEO Jamie Dimon has repeatedly expressed his personal antipathy toward cryptocurrency, going so far as to call it a fraud, but the bank itself has taken a more practical stance. It became the first major bankin the metaverse earlier this year. Dimon has praised crypto for it cross-border payment facility.<\/p>\n<p><script type=\"text\/javascript\">\r\namzn_assoc_placement = \"adunit0\";\r\namzn_assoc_tracking_id = \"totafreearti-20\";\r\namzn_assoc_ad_mode = \"search\";\r\namzn_assoc_ad_type = \"smart\";\r\namzn_assoc_marketplace = \"amazon\";\r\namzn_assoc_region = \"US\";\r\namzn_assoc_default_search_phrase = \"bitcoin\";\r\namzn_assoc_default_category = \"All\";\r\namzn_assoc_search_bar = \"false\";\r\namzn_assoc_title = \"\";\r\namzn_assoc_rows =\"1\";\r\n<\/script>\r\n<script src=\"\/\/z-na.amazon-adsystem.com\/widgets\/onejs?MarketPlace=US\"><\/script><br \/>\n<br \/><a href=\"https:\/\/cointelegraph.com\/news\/jpmorgan-places-btc-fair-price-at-38k-declares-crypto-a-preferred-alternative-asset\" target=\"_blank\" rel=\"noopener\">Source<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>JPMorgan has placed Bitcoin\u2019s (BTC) fair price at $38,000, which is 28% higher than its current level of around $29,500, according to a note to clients the bank issued Wednesday. \u201cThe past month&#8217;s crypto market correction looks more like capitulation relative to last January\/February and going forward we see upside for bitcoin and crypto markets [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":4427,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_wp_rev_ctl_limit":""},"categories":[2],"tags":[],"class_list":["post-4426","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin-news"],"_links":{"self":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4426","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=4426"}],"version-history":[{"count":1,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4426\/revisions"}],"predecessor-version":[{"id":4428,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/posts\/4426\/revisions\/4428"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=\/wp\/v2\/media\/4427"}],"wp:attachment":[{"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=4426"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=4426"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/cryptoheretostay.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=4426"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}