JPMorgan believes BTC’s ‘fair price’ is $35K, adds that it is outperforming

JPMorgan, the well-known multinational investment bank, puts a price for Bitcoin, which is way lesser than its current worth. Under its inaugural outlook primarily on alternative investments, strategies, the American bank published a report that said that these alternative assets, including cryptocurrencies, will “outperform” in 2022.

As per its price model, the bank mentioned the “fair price” of the king coin to be $35,000, which is around 45% lesser than the current worth of the coin, i.e., $63,000. 

The strategists added that a price target of $73,000 looks reasonable to them, and it would not go as high as many are speculating.

“This analysis challenges the idea that a price target of over $100K, which appears to be the consensus for 2022, is a sustainable BTC target in the absence of a major decline in its volatility.”

It finds the current entry point “unattractive,” saying that crypto assets are, however, on a “multiyear structural ascent.” 

The analysts said that the alternative asset class, including private equity and private debt, would return 11% in 2022, double the 5% profit from stocks and fixed income. They, on the other hand, did not recommend cryptocurrencies as “core holding,” asserting its volatility.

Before this, as TheCoinRise reported, JPMorgan said that the institutions were shifting from gold to Bitcoin. In early September, JPMorgan warned about volatility after the bullish scenario in August. 

Does JPMorgan stick to what it says?

JPMorgan is known for confusing BTC investors. During the May-June retest phase, the bank said that the coin is going to go much more down. Interestingly, after the start of the upward rally, as we reported, it speculated that Bitcoin is going up to $146,000.

Jamie Dimon, the JPMorgan CEO, recently said that the coin could increase by ten times. He, however, added the spice by saying that he is not investing in it as he considers it is “worthless.”