JP MORGAN

CORRESTS BITCOIN TARGET TO $ 130,000

  JP MORGAN CORRESTS BITCOIN TARGET TO $ 130,000 Finance giant JP Morgan is increasingly on the rise in Bitcoin and institutional adoption. In the e-mail sent by JPMorgan to customers on Thursday; He stated that the decrease in fluctuation in Bitcoin is positive for corporate interest. In an article covering the statement made by Bloomberg, strategists including Nikolaos Panigirtzoglou at JPMorgan: "Normalization of the fluctuation in Bitcoin will help to revive corporate interest going forward." found the assessment. On the basis of Bitcoin's diminishing long-term volatility, strategists revised their Bitcoin price targets to align with private market investment in Gold. In the said evaluation, the following statements were made regarding the subject; "Considering how big the financial investment in Gold is and the positioning of Bitcoin as the 'alternative' to Gold, it can be said that this is a big plus for Bitcoin."

Finance giant JP Morgan is increasingly on the rise in Bitcoin and institutional adoption.

As JP Morgan stated in the email, mechanically, the Bitcoin price must rise to $ 130 to match the total private sector investment. In 2021, which is the turning point for the leading crypto money, the residents of the old financial sector continue to increase their support for Bitcoin. Goldman Sachs and Morgan Stanley continue their initiatives to offer products in this area. For the potential value of Bitcoin, it is worth expecting JP Morgan and others that have historically declined to revise their upward price targets. Pairing private sector investment with Gold is just the beginning.  

Source: https://bitcoinmagazine.com/

 

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