These banks and analysts always make these predictions. And half the time they are right the other half they are wrong, so what is the point exactly of them.
I doubt they actually take any positions with their predictions anyways. Just the other day I heard one bank say that the price off crude oil will hit $120 while a few days prior some oil company said that prices won’t go any higher than they are today. Basically nobody knows where anything is going to go in the near future.
Topic: JP Morgan: bitcoin could hit $146,000 - page 5. (Read 752 times)
And just a few weeks ago, they are saying that bitcoin is obviously overpriced and its position wouldn't hold that long. I don't really know what's going on with their press division, or just the entirety of its organization in general, but I believe that they are obviously having mix-ups with the statements that they are releasing. One thing is for sure though, I would take anything JP Morgan says about bitcoin and crypto with a grain of salt, as they are an entity which doesn't really make up their mind easily.
But just the other day, I was surprised to find this thread:
JP Morgan believes Bitcoin is Overpriced.
JP Morgan believes Bitcoin is Overpriced.
I read that thread too, and the same feeling, I'm also surprised reading this thread telling JP Morgan has a bullish prediction.
I don't know if they are true with their words but what I know is that the CEO of JP Morgan has released a statement before that is anti-bitcoin, so why would I trust a company run by a CEO who is not truly supportive of bitcoin?
https://www.cnbc.com/2019/12/20/jp-morgan-ceo-jamie-dimon-in-2017-calls-bitcoin-a-fraud.html
Quote
Jamie Dimon, chairman and CEO of Wall Street banking powerhouse J.P. Morgan Chase, can be counted in the latter camp. In September 2017, about three months before bitcoin hit an all-time high of nearly $20,000 per unit and crashed shortly thereafter, Dimon dropped a bomb on the crypto world. He called bitcoin a “fraud.”
I think they made this bold prediction at the start of the year, and just renewed their prediction in the last day that bitcoin will indeed on the road to $100k.
This is their prediction on January 4, 2021.
JPMorgan says bitcoin could rally as high as $100,000 - but warns that such a surge would be 'unsustainable'
But just the other day, I was surprised to find this thread:
JP Morgan believes Bitcoin is Overpriced.
This is their prediction on January 4, 2021.
JPMorgan says bitcoin could rally as high as $100,000 - but warns that such a surge would be 'unsustainable'
But just the other day, I was surprised to find this thread:
JP Morgan believes Bitcoin is Overpriced.
I want an analyst will say that instead of saying "could" or "if", they will say the word "will" with their prediction.
I doubt if anybody will do it.
Either way, that price is reachable but not in a short amount of time. Maybe it will take at least a year or more for that price to be reached. Well, another prediction/speculation coming from a "credible" analyst. Expect more in the future as prices of Bitcoin is at the top.
This will be difficult, if they gave a prediction with that kind of confidence they could be exposing themselves to lawsuits if someone actually followed their advice, invested in bitcoin and lost their money.I doubt if anybody will do it.
Either way, that price is reachable but not in a short amount of time. Maybe it will take at least a year or more for that price to be reached. Well, another prediction/speculation coming from a "credible" analyst. Expect more in the future as prices of Bitcoin is at the top.
Besides by giving such a prediction they open themselves to being judged by the number of predictions they got right and the ones they got wrong, however if they include those words they can always say they never assured those things will happen and they can always dismiss those failures as non-predictions, while the ones that actually hit the target will be promoted as great insights they published way before anyone else.
Look, we've seen predictions like these from investment banks all the time.
But the fact is that they don't have a crystal ball and probably know as much about the future prospects of the market as we do.
BTC could hit $146,000 in the near future and JP Morgan will be saluted as an oracle, or this could just be another one of the hundreds of predictions that gets forgotten. If you are investing for the long term, I think that this price level is an eventuality anyhow with the imminent collapse of fiat.
But the fact is that they don't have a crystal ball and probably know as much about the future prospects of the market as we do.
BTC could hit $146,000 in the near future and JP Morgan will be saluted as an oracle, or this could just be another one of the hundreds of predictions that gets forgotten. If you are investing for the long term, I think that this price level is an eventuality anyhow with the imminent collapse of fiat.
How would btc go 146k without its volatility? There will be no fun if there are no adventurous fluctuations in btc's value. IIRC, JP Morgan was the company that said btc has no intrinsic value and will not be there in near future. Now they changed their statement with times? Btc has made so many big names fall in love with it and change their minds, I am waiting for Bill Gates and Warren Buffett to invest in btc and declare about it publicly.
He talks about volatility, but believes the price of bitcoin could reach very high prices in the future. well, this is the same as when the bitcoin price is still below $20k and expects the price to be above $50k. one can guess the price of bitcoin to be very high because of this volatility issue. however, the most important thing is that no one can really guess when the time will come. however, we all believe that the price of bitcoin could reach very high prices in the future. it is due to its increased adoption rate, wider usage, and worldwide recognition.
however, he could have said that the price of bitcoin could be as high as $200k, or $1 million due to the extremely high volatility. however, it is only a prediction. I think this is nothing new.
however, he could have said that the price of bitcoin could be as high as $200k, or $1 million due to the extremely high volatility. however, it is only a prediction. I think this is nothing new.
I know that "JPMorgan said that for the $146,000 price to come true, bitcoin's huge volatility would have to fall sharply", but I don't think that the investors would care much about that detail.
I actually think that a drop in volatility would kinda be short-mid term bearish lol. A lot of people are still in this space for "quick gainz" that it's a safe assumption that a lot of retail investors would sell if bitcoin is stagnant.
But no, I don't think it would require less volatility to reach $146k. If anything, it's highly more likely for bitcoin to reach that price via high volatility.
This guy changes his predictions time after time. But isn't only me that feels worrying when there are many positive predictions that we're having when this bull run is quite long already?
With all of the positive predictions, I'm still waiting and positive for the $100k anytime soon at the end of this cycle so whether it will reach his prediction or not, I still want it to be there at the top that it can be.
With all of the positive predictions, I'm still waiting and positive for the $100k anytime soon at the end of this cycle so whether it will reach his prediction or not, I still want it to be there at the top that it can be.
Sometimes I think that their predictions are all about increasing volatlity and recting new guys. When bitcoin fall they predict massive dump, when BTC start to go up they predict massive rally.
In fact I've never seen price hitting their target. Its always way too high or way too low.
In fact I've never seen price hitting their target. Its always way too high or way too low.
Do they only make these "predictions" when bitcoin is rebounding and then fallen slightly, perhaps to coincide with when they just bought some...?
I mean it's a nice news story and will probably get some people on twitter excited but I think their primary goal is still price manipulation.
I want an analyst will say that instead of saying "could" or "if", they will say the word "will" with their prediction.
I doubt if anybody will do it.
Either way, that price is reachable but not in a short amount of time. Maybe it will take at least a year or more for that price to be reached. Well, another prediction/speculation coming from a "credible" analyst. Expect more in the future as prices of Bitcoin is at the top.
I doubt if anybody will do it.
Either way, that price is reachable but not in a short amount of time. Maybe it will take at least a year or more for that price to be reached. Well, another prediction/speculation coming from a "credible" analyst. Expect more in the future as prices of Bitcoin is at the top.
Though looking speculative but bitcoin is undoubtedly going higher than such price by JP. Adoption has made retracement of bitcoin this year moving just below slightly at every pump and not dropping heavily. It is a different volatility from the past, this volatility is sustainable pushing for steady increase. Bitcoin looking to drop to $61,000 area but buyers are ready to jump in because the notion of adoption at least.
understatement because bitcoin price will surely hit over $150000
If the "volatility issues" are solved, even 10x of that value is easily possible, since then *everybody* will use Bitcoin as a store of value.
That's why I find JP Morgan statements more a speculation/pumping attempt than anything else. All those "could" "if" parts are there just to somehow give a bit of credibility to their "analysis".
I will not have short term prediction about this, if long term, 'could' included makes it an understatement because bitcoin price will surely hit over $150000. It can be long but a time is coming bitcoin will even never retrace (fall below) to $150000 ever again. But this is long term prediction which will be accurate based on total wealth in the world and fiat-depreciation-price-control by the government. In short term, the price of bitcoin can be difficult to predict, but all-time-high is certain in long term.
JPMorgan renews prediction that bitcoin could hit $146,000 - and says it's acting more like digital gold than ever
The guys have updated their predictions and I find the new value interestingly high. The new 146k has the potential imho to be the start of a new pump.
Would it be enough for some nice week-end speculation?
I know that "JPMorgan said that for the $146,000 price to come true, bitcoin's huge volatility would have to fall sharply", but I don't think that the investors would care much about that detail.
The guys have updated their predictions and I find the new value interestingly high. The new 146k has the potential imho to be the start of a new pump.
Would it be enough for some nice week-end speculation?
I know that "JPMorgan said that for the $146,000 price to come true, bitcoin's huge volatility would have to fall sharply", but I don't think that the investors would care much about that detail.
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