Bitcoin Forecast from American Investment Bank JPMorgan

American investment bank and financial services holding company JPMorgan made evaluations about the cryptocurrency industry. Talking about Bitcoin, which is the leader of cryptos, JPMorgan noted that the fair price for Bitcoin (BTC) is $38 thousand.

The cryptocurrency industry has drastically declined as investors have given up on risky assets. Talking about crypto giant Bitcoin, JPMorgan made an upward forecast for BTC and crypto markets despite the sales wave and noted that it has classified digital assets as a preferred alternative investment. Expert economists stated that cryptocurrencies continue to be the favorite of investors and have surpassed real estate, which is expressed as a popular investment tool. Supporting the view that $38,000 is a fair price for Bitcoin, economists said, “Looking forward, we maintain our upward forecasts for the bitcoin and crypto markets more generally.” Bitcoin (BTC) has dropped 37 percent from the beginning of the year, while the second largest currency, Ethereum, has lost about 48 percent. The total market capitalization of all cryptocurrencies has declined by $2.7 trillion since November.