JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around) - page 2.

Haunebu

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Quote from: sheenshane on May 30, 2020, 05:33:02 AM

In the future it will be chaotic to bank industries if people continue to adopt and embrace Bitcoin for their daily transaction for everyone will start pulling out their savings in the bank and invest it in Bitcoin instead and no bank will never want that to happen, this could be the reason they are telling this rubbish statement.

I disagree. The reverse could happen. Banks could provide crypto like BTC etc as alternate payment options which would be mutually beneficial for both crypto and the banks. This is the best case scenario in my opinion.

Quote from: LogitechMouse on May 30, 2020, 07:11:51 AM

Anyway it happened already. We have nothing to do right now but to be happy that a popular name is supporting Bitcoin. I just hope that his support will be long term and he isn't just supporting it because of the pandemic.

You can never expect a firm like JP Morgan to keep their promises in the long term. It's good that they are supporting crypto currently, but history suggests that they flip-flop a lot like you mentioned.

LogitechMouse

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I still remember when this stupid bank owner is spitting useless criticisms regarding Bitcoin. It was 3 years ago.

Now he is doing the opposite already and added a Bitcoin Exchange in their banks. I know that some are happy that a huge name is supporting Bitcoin but if you will remember the things he said last 3 years ago then you might feel frustrated too.

Anyway it happened already. We have nothing to do right now but to be happy that a popular name is supporting Bitcoin. I just hope that his support will be long term and he isn't just supporting it because of the pandemic.

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Quote from: boyptc on May 30, 2020, 07:00:10 AM

They were anti-bitcoin before and says that it's a fraud.

Who else is imagining that the Goldman Sachs statement will also be turned like this?

I think Goldman Sachs had been bullish about BTC for a long time ago. I can't remember them telling bad things about BTC though. But I have heard of them investing to BTC. The money of institutions is coming but its not yet very obvious, they are probably buying bits by bit and until one of them executes a very big amount of buy order the climb of the price may be slow.

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They were anti-bitcoin before and says that it's a fraud.

Who else is imagining that the Goldman Sachs statement will also be turned like this?

Lunatic_Pandora

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JP Morgan has been flip-flopping opinions for years on cryptocurrency, just like all the other centralized institutions.

Maybe sane minds on the inside finally managed to get them to buy a massive chunk of BTC, and NOW that they are holding, they claim it's undervalued to pump their bags.

sheenshane

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IMO, JP Morgan sees Bitcoin as a competitor for its decentralized value which if global adoption happen it can definitely shut down their business. I'm pretty sure that they have Bitcoin as well but we just need to understand them that they are only saying these things maybe because they need to hold on the business protocol.

In the future it will be chaotic to bank industries if people continue to adopt and embrace Bitcoin for their daily transaction for everyone will start pulling out their savings in the bank and invest it in Bitcoin instead and no bank will never want that to happen, this could be the reason they are telling this rubbish statement.

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Quote from: TheCryptocurrencyPortal on May 29, 2020, 04:23:20 PM

Interesting info. What do you think? BTC

JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around)
https://www.youtube.com/watch?v=O-sQJPC0n2E&feature=youtu.be

The opinion of JP Morgan towards Bitcoin and cryptocurrencies in general isn't relevant anymore.
They are constantly trying to spread FUD in order to lower the Bitcoin price,so they could secretly buy some cheap Bitcoins.Banks like JP Morgan,Goldman Sachs,Citibank,Bank of America are well known for manipulating any market they are in.I wouldn't trust the analysis or opinion coming from any guy that works in those banks.
They are a bunch of liars and hypocrites.It would be great if we just ignore all the Bitcoin news coming from such banks.

Darker45

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JPMorgan has already started to turn around years ago. Their conversion is gradual, though. So this is not a huge move anymore. Their controversial CEO once publicly decried crypto, only to launch its own a year or so later. And then, just recently, they opened their doors to cryptocurrency businesses, accepting two of the largest names in the space: Coinbase and Gemini.

I guess this realization of undervalued Bitcoin is coupled with the realization of overvalued fiat. Cheesy

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Quote from: squatter on May 29, 2020, 07:04:01 PM

It isn't a huge turnaround. The author of the report, JPMorgan analyst Nikolaos Panigirtzoglou, has been tracking and reporting on Bitcoin's "intrinsic value" -- essentially marginal mining cost -- for at least a year. He has long maintained that gaps between marginal cost and price can be resolved either by a change in price or a change in marginal mining costs.

Noticeably, the hash rate fell 6% since the halving and is expected to fall another 6% or so next week. This means the "intrinsic value" of a bitcoin is declining, and may continue to decline.

and he realised that if he cant beat btc, better join the pack. for sure, he's been following the btc market for quite some time already and only a matter of time when to say this statement. what are the odds that he's been secretly collecting stash of btc and other alts for the past years???

squatter

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It isn't a huge turnaround. The author of the report, JPMorgan analyst Nikolaos Panigirtzoglou, has been tracking and reporting on Bitcoin's "intrinsic value" -- essentially marginal mining cost -- for at least a year. He has long maintained that gaps between marginal cost and price can be resolved either by a change in price or a change in marginal mining costs.

Noticeably, the hash rate fell 6% since the halving and is expected to fall another 6% or so next week. This means the "intrinsic value" of a bitcoin is declining, and may continue to decline.

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Other banks will also follow soon.

They were going to say that long back but, could not because of the fear of losing financial authority. Now they know they cannot, hence use it for their own financial benefit.

I am only waiting for mainstream media now to declare Bitcoin is not a Ponzi scheme.

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Quote from: electronicash on May 29, 2020, 05:55:13 PM

it was posted last 28th where the coins spikes as well. good to know. i would really be laughing if its Jaime that speaks there on TV but of course just like Warren they wouldn't admit they themselves are collecting BTC. the only reason they'd be bullish today is sure because they have already collected a stash since the start of their campaign to spread fud.

Those people sometimes we don't know what really is in their minds, and most of the time if they say something, we know there is hidden agenda about it. And of course, it is favourable on their side. With the change of stance towards bitcoin, I believe he is now a big holder of bitcoin. Tongue

electronicash

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it was posted last 28th where the coins spikes as well. good to know. i would really be laughing if its Jaime that speaks there on TV but of course just like Warren they wouldn't admit they themselves are collecting BTC. the only reason they'd be bullish today is sure because they have already collected a stash since the start of their campaign to spread fud.

TheCryptocurrencyPortal

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Interesting info. What do you think? BTC

JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around)
https://www.youtube.com/watch?v=O-sQJPC0n2E&feature=youtu.be

Topic: JPMorgan Now Says Bitcoin (BTC) Is Significantly Undervalued (Huge Turn around) - page 2. (Read 634 times)