Topic: JP Morgan believes Bitcoin is Overpriced - page 4. (Read 654 times)

He's at it again, we should stop giving this guy any attention that he needs. He's taking the fame extremely into his favor by these media giving him the attention that he wants. He's a known guy that plays good and bad to the market, today he'll say that and then tomorrow, he'll say something positive. It's too overpriced as he said because he wants people to sell and start panicking so that he'll start picking those bitcoin in pieces at the cheapest possible price that it can with such move he create.

Update   The JP Morgan analysts have changed their minds. The new target is 146k  
JPMorgan renews prediction that bitcoin could hit $146,000 - and says it's acting more like digital gold than ever


OP, your "100k is overpriced" story no longer stands. I advise you add an update to the first post and then lock the topic.

I also think that JP Morgan might be interested in investing in Bitcoin, because they must have been paying attention to the movement of Bitcoin
all this time. Moreover, JP Morgan has a team that is smart in terms of analyzing the market, and JP Morgan knows that spreading FUD can make
Bitcoin prices fall. And when Bitcoin fall they will buy Bitcoin at a cheap price, such a strategy is indeed carried out by large capital owners.
Unfortunately investors are now getting smarter, many old investors have learned from the mistakes that occurred in 2017. So with a lot of
FUD circulating, I'm also sure that not many people will panic, maybe those who are affected are newbie and inexperienced investors. Therefore,
when China spread FUD by saying China banned crypto, the price only fell briefly, then not long after the price went up again. Likewise, the FUD
that JP Morgan spreads will not greatly affect the price of Bitcoin.

doing the math of mining cost where absolutely no one on planet can mine below the most efficient cost..
this value does work out as $35k .

this bottom line value number is not an indicator of what the PRICE should be. its more of an indicator of what everyone would refuse to sell below.. much like retailers have a retail price. but they also have a supplier cost. and would never sell below their cost of getting the goods

the $35k i dont see as a thing the price should be. but an indication that the $61k price is near 2x value

however there are other things you can learn from calculating mining costs.
in denmark its actually costs $72k to mine bitcoin right now. meaning they are not mining. but instead BUYING
meaning there is some demand of buying bitcoin above $61k
germany is at $79k. meaning if they mined they are losing money. but they are getting a great deal buying at $61k far below their mining cost.(like denmark)

however there is NO country on the planet with a mining cost of $100k. so there is absolutely no reason for anyone to buy coin at $100k because every country on the planet can mine bitcoin for less than $80k

learning about this $35k->$80k window gives people an idea of the region of calculated buying/selling power

and if anyone wants to know. to get a complete bottom line value where the price will never tip below due to mining cost

hashrate needs to be 445exa to keep a stable price above $100k
hashrate needs to be 230exa just to have a possibility of peaking(temp) to $100k due to calculated buy/sell power

I believe they're getting interested on bitcoin, or else the JP Morgan team won't take bitcoin into consideration and reveal analytics. I think they believe on the market to be manipulative by popular people. To negative news bitcoin used to react immediately and turn bearish in the past. Now things have changed as people are mature to know better and doesn't get panic. This is the very beginning and soon JP Morgan can have his company holdings in bitcoin.

The FUD spreader, why would we believe in this guy?

If he thinks bitcoin is overpriced and we don't believe in him, it should not affect our decision to invest.
Maybe overpriced in a short period of time due to hype that would result in a pump of price, but in general, it's now because it's based on demand and as we read in the news, more institutional adoption is happening, even a country adopted in bitcoin, so the price is justified right.

If you've been here on this market for years then these kind of sentiment or words wont really be that something new or something that you would be schocked or panic about it.We do have our  own opinion on things and since the  market isnt something that you couldnt really able to guess upon then
people would make out sentiments which turns out to be nonsense on most part and in bitcoin community we've known that it  is running already for a decade and when it comes to criticisms then there are lots of it in the past so dont be surprised everytime you do hear off these kind of words.

And besides, who is he to dictate what will happen to the market? Remember, before he is anti-bitcoin and now, it seemed the air changed. No one can exactly tell the future of bitcoin, so everyone is just speculating what may possibly happen to the btc market. Even self-proclaimed experts can make mistakes with their prediction.

Let's him speak as his belief, no one knows the future. Everyone can predict as his own analysis, in reality the price can be unpredictable. Bitcoin price cannot be determined by JP Morgan's statement, so why we must believe him? However, it seems that JP Morgan didn't claim Bitcoin cannot reach $100k, he is just not sure $100k achievable in the near future.

Usually this kind of statement is not surprising, and on the contrary, you should hold that the opposite are going to happen here.

Or they just wanted to buy cheap Bitcoin again because they have history of creating FUD or at least jumping on some FUD and then when the market is affected negatively, they are going to buy ton of cheap bitcoin, sell at a a right time to make profit.

Let it be.
We don't even know what meant to him. We also know that many people may be including JP morgan also have a certain interest. This may be a little bit worrying news for Bitcoin. But It will not give much influence.
Well, reaching $100k may be very difficult and I also think that this is a very high value. But, why not?
Many more people are now holding Bitcoin and we believe in Bitcoin so that the value and also rate may be increasing so fast.

That report is embarrassing.  It's behind a paywall and your numbers aren't really correct compared to what was stated in the report, so it's a bit misleading.  From seeing the report, it was blatantly obvious they were just throwing out numbers.  They 'basically' said Bitcoin is going to be somewhere between $30K and $200K so it might be a good time to buy or sell.  I honestly couldn't think of a more useless conclusion and the fact that they felt the need to send this to clients right now is a bit telling.  They aren't totally wrong though if you consider that they're more-less saying we're headed for a bubble, so keep in mind that Bitcoin is only worth $30K when it hits $200K and don't be a buyer.  I think you'd have to have enough knowledge about what's to come in order to understand their speech though.

Let them say anything but let's not forget JP Morgan Chase is a bank and these bankers can go any limit to pull down the value of bitcoin like they did in the past as well. I think we should pay heed to their predictions because they are the most corrupt and greedy people on this earth. This may be a new trick to manipulate market to get in at a lesser price.

This is very true, there is a vast conflict of interest taking place. You can already see there is huge demand for cryptocurrency related funds right now and many big companies are trying to incorporate it into their service offering since it has been established for a while now. Paypal and soon to be Mastercard are allowing large parts of very rich countries access to this cryptocurrency that has been advertised as a huge gainer for many years now - people are definitely still interested while the quantity available remains static. Every new company that announces interest in this is going to take a chunk of availability further away and reduce volatility as they suggestion. They are selling this hard to customers on one side while their (usually very unreliable) analysts are projecting an opposing story to drive down the price. These investment banks make money from regular trading transaction fees, not from people who sit and hold these assets.

It's a psychological control tool for market manipulation. That is what the capitalist do, create a FUD in the market and then buy cheap. Only noobs will listen to this! Why will a notorious capitalist would want to help you when he actually doesn't care about you? People must be responsible for their action and inaction.

They can say all the things that they do want because no one could actually make out precise predictions on what price Bitcoin should be playing on.

100k price isnt really just too overpriced because everything will really vary with the demand itself and that would be setting out no definite price

Its just  expected that Banksters would always have negative impressions or thoughts towards crypto specially on Bitcoin and its not actually surprising.

Wonders shall never cease.
Anyone that believes in what JP Morgan said about Bitcoin being overpriced is totally naive cause JP Morgan once predicted the price of Bitcoin to climb up to $130,000 price range.
Now they are saying it is overpriced, they just want to cause fud so that people can take profit.

Opinions are like ass holes; everybody has one. Same applies for JP Morgan, although I doubt this is indeed the way they see it. It's probably some sort of client manipulation. It doesn't make any sense. Why should it be $35k? Have they analyzed this or can I assume that it's just an arbitrary number?

Large companies do this sometimes. They show that they're against something to drop its market value temporarily and then they make a generous purchase. Didn't Michael Saylor do this?

I did not find the exact statement of JP in the article. But if it's true, no matter how many times JP Morgan attacks incessantly saying Bitcoin price will not reach $100K, then when in fact it does hit $100K, I'm sure he will say Bitcoin won't reach $150k and so on. Maybe in the past he also said the price of Bitcoin would not reach $60K.

how many people have so many opinions, I could not imagine at all that bitcoin would reach today's mark, so analysts say one thing, but bitcoin does it in a completely different way, so I don't really trust analysts' opinions, it seems to me that no one can predict the exact dynamics of the bitcoin price development