JP Morgan believes Bitcoin is Overpriced - page 3.

Jaycee99

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Quote from: Blawpaw on November 04, 2021, 07:53:27 AM

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is overpriced. JPMorgan Chase & Co. strategists recently released a report where they mention that Bitcoins's price is overpriced and for it to hit the 100k mark it would need to have volatility decreased. They point out that Bitcoin is now being traded above 60k but the true price for Bitcoin should be $35k.

What do you guys think about this?

Let us say it is like this head of Windows phone back in the day he was treated of iPhone I forgot what he said but from what I understand he was expressing windows phone was chipper and affordable than iPhone. Plus the exact thing he did was make their business flop despite that he did everything he could to save the company and the 2017 windows phone is dead.

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https://www.theverge.com/2017/10/9/16446280/microsoft-finally-admits-windows-phone-is-dead
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Joe Belfiore's interview/negative speech threatened of Appple= Windows phone is dead.

I could not find the source of the interview on what was asked exactly to Joe Belfiore for you all to understand. Still, My point here is if this JPMorgan Chase & Co talks about bitcoin and said "terribly overpriced" he might regret it years later like Joe Belfiore.

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I'll update if I found the source of the interview which for me it could happen to and the same with JPMorgan.

Hamphser

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Quote from: ALLON2017 on November 17, 2021, 06:38:46 PM

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ALLON2017

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milewilda

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Quote from: NelfiNovita on November 17, 2021, 01:12:09 PM

Quote from: Blawpaw on November 04, 2021, 07:53:27 AM

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is terribly overpriced. JPMorgan Chase & Co. strategists recently released a report where they mention that Bitcoins's price is overpriced and for it to hit the 100k mark it would need to have volatility decreased. They point out that Bitcoin is now being traded above 60k but the true price for Bitcoin should be $35k.

What do you guys think about this?

Nothing is impossible if the price of BTC reaches $100, day by day more and more people are buying and using BTC to trade and invest. Massive adoption of Bitcoin because Bitcoin has very profitable uses such as, as a means of payment, investment, trading. The number of bitcoins is limited, which is only 21 million Bitcoins, many people think that the price of bitcoin will continue to rise from year to year because there is too little supply of Bitcoin.

Would be always on simple economics subject in regarding about the law of supply and demand which it is very normal that price will eventually bloat out but will vary on the demand we are seeing and considering that bitcoin does have limited supply and the demand is high then we would really be seeing those numbers and it would really be just depending or in matter of time on when it would happen and lets not remove those possibilities
and its better not to be that optimistic or hopeful because anything could happen along the way.

Fortify

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Quote from: Blawpaw on November 04, 2021, 07:53:27 AM

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is terribly overpriced. JPMorgan Chase & Co. strategists recently released a report where they mention that Bitcoins's price is overpriced and for it to hit the 100k mark it would need to have volatility decreased. They point out that Bitcoin is now being traded above 60k but the true price for Bitcoin should be $35k.

What do you guys think about this?

Honestly, a lot of analysts including these big name banks are as absolutely clueless as the rest of us when it comes to predicting the trend or direction of bitcoin over any period of time. It has proven that it is nothing like a company, where they can evaluate all sorts of information like margins, profits, new products, etc. and it is more like a commodity that is moving wildly but has great universal demand. It's also worth noting that these very banks are late to the part in many cases, so it would highly benefit them to be able to stock up on Bitcoin at lower costs to push it back on to their very high net worth clients who are probably seeking exposure to crypto a lot at the moment.

NelfiNovita

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Quote from: Blawpaw on November 04, 2021, 07:53:27 AM

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is terribly overpriced. JPMorgan Chase & Co. strategists recently released a report where they mention that Bitcoins's price is overpriced and for it to hit the 100k mark it would need to have volatility decreased. They point out that Bitcoin is now being traded above 60k but the true price for Bitcoin should be $35k.

What do you guys think about this?

Nothing is impossible if the price of BTC reaches $100, day by day more and more people are buying and using BTC to trade and invest. Massive adoption of Bitcoin because Bitcoin has very profitable uses such as, as a means of payment, investment, trading. The number of bitcoins is limited, which is only 21 million Bitcoins, many people think that the price of bitcoin will continue to rise from year to year because there is too little supply of Bitcoin.

shield132

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While I agree with him, I would say that the people who make predictions or state this kind of opinions under their famous name are just speculative persons who only care about their finances and try to manipulate the price of their assets/positions via you.
Bitcoin doesn't really need 30K price, it can perform well between 15-20K range and I believe after the crash, we will see this price again like we saw 3K after the crash from 20K. It's another task whether bitcoin reach 100K or not. Yeah, it's overpriced but it doesn't mean that there aren't people who won't buy it for 100. From the society that made dogecoin to worth almost 1$, nothing is unexpected.

glendall

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there is a possibility that JP said that he intends to add BTC but the price has reached 60k and he hopes that btc returns to 35k in order to increase their BTC stock
as there is btc has a fixed stock so to experience a price drop is only bad news or a mass ban in every country
and I think it's also a natural thing if the value of btc reaches 100k later because many want to own bitcoins and owners also want to benefit from their results

NeuroticFish

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Quote from: Oilacris on November 05, 2021, 05:24:51 PM

Now their talking about being digital gold? What a turn of words. Wont really be surprised if they would revert those words back and said
negative ones again.

That's correct. I'd say that it's in the job description to declare things in accordance with the company's current direction. They were against bitcoin in the past, they may be against bitcoin in the future. Now bitcoin brings them revenue, hence they speculate it will rise.

Oilacris

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Quote from: NeuroticFish on November 05, 2021, 04:02:57 AM

Update

The JP Morgan analysts have changed their minds. The new target is 146k Cheesy

JPMorgan renews prediction that bitcoin could hit $146,000 - and says it's acting more like digital gold than ever

This is what im saying is that people could change up their minds and impressions towards the market and it is somewhat a bit manipulative kind of behavior on which they do tell negative things first and then sudden change on positive.

Now their talking about being digital gold? What a turn of words. Wont really be surprised if they would revert those words back and said
negative ones again.

YinShuiSiYuan

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Quote from: Blawpaw on November 04, 2021, 07:53:27 AM

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is terribly overpriced. JPMorgan Chase & Co. strategists recently released a report where they mention that Bitcoins's price is overpriced and for it to hit the 100k mark it would need to have volatility decreased. They point out that Bitcoin is now being traded above 60k but the true price for Bitcoin should be $35k.

What do you guys think about this?

It's a never ending story with JP Morgan.. They always sell fake news. I have been observing their predictions for several years. Actually, since they first said something about Bitcoin, it was obviously negative predictions, just like it is now. In 90% of them they are opposite to what happens next.
If JP Morgan says Bitcoin will never reach $100k, at this point I am 100% sure that $100k will be achieved and it will happen quite soon.

Gyfts

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Quote from: Fortify on November 04, 2021, 02:52:23 PM

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My theory is the more FUD they spread, the more they can attract naive investors away from crypto and shift the market downward which would take away the institutional investors away from crypto, which is their target market. JP Morgan doesn't care what some 23 year old Robinhood investor thinks about Bitcoin or where they store their money in particular, but multiply this individual by hundreds of thousands, or even more, it has a large effect on the market. The institutional investors will follow the money, not that they care about the technology related to crypto or its decentralization, but to each their own.

GeorgeJohn

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Quote from: hd49728 on November 04, 2021, 09:00:07 AM

No thing to think about this statement or else from JP Morgan. They and their CEO attacked Bitcoin multiple times but after all they launched services to allow their customers to invest in Bitcoin.

From Bitcoin is a fraud in 2017
to JPMorgan to give all wealth clients access to crypto funds

We have to know by this time that cryptocurrency especially bitcoin have a particular group of people that always castigates and antagonist it's development Everytime, and we have grown enough not to listen into all their false information people are rendering to people, JP Morgan's never one day believe or support bitcoin in any form likewise Elon Musk, so i classify this set of individuals as bitcoin opposer or antagonist and we don't have to regard their public announcement concerning bitcoin as a something new, because it's not the first time and it can never be the last they will are procrastinating or spreading negativity about bitcoin.

Hydrogen

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Quote from: Blawpaw on November 04, 2021, 07:53:27 AM

JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is terribly overpriced.

JP Morgan's cost projections are based upon an assumption that inflation will be short term. Eliminating both the need and demand for inflation protected assets like bitcoin.

If their assumptions on inflation being short term turn out to be incorrect however. Their cost assessment of bitcoin, will be thrown into doubt.

Future cost projections always stand or fall upon the foundation of assumptions upon which they are based. Inflation being short or long term, factors heavily into what bitcoin's market value should be.

Market behavior being based upon brownian motion was blamed for projections not predicting the 2008 economic crisis. Their accuracy can always be questioned. There are historical precedents which indicate this.

Coyster

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Quote from: galambo on November 05, 2021, 12:15:27 PM

They are the people who said BTC is a scam and must be avoided, they will keep on saying bad about BTC. Its the responsibility of the community not to pay attention to such negative news.

Bitcoin users who are not new to the network and understand it wouldn't be worried about the FUD or what other people say about the network, the people I'm actually concerned about is the newcomers and individuals who want to adopt the technology, they are more often than not deceived by most of the erroneously placed news on the media about Bitcoin; that's the reason why it's always advised that one does his or her own research before joining the network, if you are expecting one so called 'expert' or the other to drop their opinion/perception before you make a decision, then you're must likely going to make a mistake.

galambo

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Quote from: Gyfts on November 04, 2021, 08:04:11 AM

They have a conflict of interest to begin with, even if their estimations are in good faith, which I doubt. They're suggesting that groups invest in real estate or hedge funds oppose to crypto which is awfully convenient for them, considering investment consulting groups aren't really needed to invest in crypto to any significant degree - you purchase and hold, that's the extent of investing in Bitcoin.

Defiantly they can't be trusted since their playing area is not crypto but what you mentioned. We saw similar news from Warren Buffet, he is beyond any doubt one of the greatest investor of all time but his playing area is Equity trading that's why he doesn't like crypto. They are the people who said BTC is a scam and must be avoided, they will keep on saying bad about BTC. Its the responsibility of the community not to pay attention to such negative news.

hd49728

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Quote from: dothebeats on November 04, 2021, 09:52:44 AM

JP Morgan has been releasing such kinds of statements for the longest time, that I don't think it's still relevant whatever their comments are on bitcoin or cryptocurrency in general.

They do know what they did and what they are doing. Their statement is to FUD the market. We don't know what they did behind the scene. 4 years and they changed from a fraud accusation to accept Bitcoin. Months later they return to FUD Bitcoin again. They are dishonest with what they are doing and what they think.

Quote

At this point, I believe they are just subtly persuading people to invest on bank-controlled assets and not on bitcoin which they cannot and will not touch.

They can do this because of themselves or they do this because of pressure from government. We don't know this but fact is why Bitcoiners have to care of governments. We can have our own banks with Bitcoin.

If JP Morgan did it because of governmental pressure, they are not real bitcoin maximalist.

davis196

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Every JP Morgan analysis about Bitcoin is basically a joke.I don't want to bother analyzing this "analysis".
What do they mean,by saying that the Bitcoin price could reach 73K USD,if the volatility of Bitcoin drops?
Can the price volatility of Bitcoin be lowered by something or someone?I don't think so.
The price volatility is what makes Bitcoin so "sexy" for the risk loving speculative investors.
Turning Bitcoin into a stablecoin would kill all the advantages of Bitcoin and make it as boring and useless as a "financial junk".

JohnBitCo

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Quote from: qwertyup23 on November 04, 2021, 11:22:41 AM

Everyone believes that BTC is overpriced, yet people kept on buying and purchasing it as an investment mechanism. The problem with investment firms such as JP Morgan, they have an underlying conflict of interest with BTC that makes them oppose to such view. Remember that these firms have one thing in common- to earn money. Anything that hinders their growth will create this sort of statements against such.

To be honest, the value of BTC is derived from the law of supply and demand. Since people are willing to acquire BTC at such price, it is obvious that its price would increase.

Those who think bitcoin is over-priced does not have complete knowledge about the bitcoin. Other then supply/demand the fundamentals of bitcoin is too strong and limited supply make this a very valuable currency. I think the prices for bitcoin like 50,000 or 60,000 are low - priced as in coming days we will not get the opportunity to buy bitcoin under 100,000$.

so98nn

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JP Morgan can come to me later this year and buy some bitcoins, I will help him get it at cheaper rates.

Seriously, what the heck overpriced is? Do you know when something becomes overpriced then peeps start to look the other way and find another investment. Have you ever seen someone stating that Tata Group shares are overpriced? Or do you see someone stating that oil shares are overpriced. Oh dam, everyone is actually happy when the prices go off the chart. Because everyone wanna make the profits!

JP is just missing the train and he needs to fill his bag anyways. He thinks he can impact the market like the way Elon musk does. His living in his dreams. Lolz

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