JPMorgan sets Bitcoin Target to $130K Predicting Strong Institutional adop. - page 2.

btcsmlcmnr

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Quote from: ConnerDalfino on April 02, 2021, 03:19:46 AM

Limitations of JPMorgan’s analysis:

1-they only consider matching private investment, ignoring public sector holdings

Investments in bitcoin should be made from your investigations as well as JP Morgan's. Additionally, it should be made with confidence after your due investigations on protocol of bitcoin. If one investor has comprehensive thoughts on bitcoin deflationary specifications, investments will be made without fear of loss in long term.

Quote

2-they do not consider that in a digital economy, it is easier to acquire and hold Bitcoin than it is to buy physical gold. Therefore bitcoin has a market value potential that can exceed gold many times over.

Bitcoin is better than gold and they are different so you can not compare them correctly. With the inflation in CBDC systems on the globe that is shown publicly with supports from the Covid-19 and QEs, bitcoin will be on the huge booster to the Moon.

Gold can be another good investment but per its instinct, it won't have big growth as bitcoin.

Poker Player

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Quote from: Tytanowy Janusz on April 02, 2021, 04:47:40 AM

Quote from: Jating on April 02, 2021, 04:05:03 AM

Yes, and I think there's no surprised here. Many has seen bitcoin's narrative has evolved already. Institutions are investing and hedging their balance sheet on bitcoin.

But we all forget that there are still retail investors or traders, which is also very important to keep the ecosystem in check. So it's a balance between institution and retail investors that will fuel the massive pump to six digits this year. So for me, they also need to consider ordinary and average joe traders/investors.

Check out this thread. https://bitcointalksearch.org/topic/m.56696242

IMO institutional investors will push BTC price to unimaginable numbers. Not $130k as JPMorgan estimates. Not even 1M$. Much higher. Retail invesotrs will play almost no role in this pump.

Much higher probably but not in this cycle. The highest prediction I've seen is the supercycle theory which far exceeds all the others, predicting that we could reach $1M this cycle.

Lucius

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JPM has already become a regular in such statements, so if you look a few months back you can read articles like this:

Quote from: https://www.cnbc.com/2021/01/05/jpmorgan-bitcoin-price-could-rise-to-146k-as-it-competes-with-gold.html

In a note published Monday, JPMorgan made a bold long-term price target for bitcoin, claiming the red-hot cryptocurrency could rally as high as $146,000 as it competes with gold as an “alternative” currency.

Their speculation is actually largely based on BTC market share relative to gold, or in other words whether investors will start turning more to digital gold. Yet JPM in some of its speculations goes so far as to raise the possible price as high as $650 000, but even though it is the largest US bank these are just speculations based on what could happen if everyone literally goes crazy for BTC.

Quote from: https://coinjournal.net/news/jp-morgan-report-suggests-bitcoin-price-could-reach-650k/

The investment bank reckons that if Bitcoin stays the course and draws more investors, it could reach a price level of $650,000. JP Morgan fancies this being the case if the crypto attains the same market cap as gold. Of course, this won’t happen in the near future. In the report, JP Morgan asserts that by virtue of increased institutional adoption of Bitcoin, the price jump will likely happen sooner than it had been expected.

tyz

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Quote from: Tytanowy Janusz on April 02, 2021, 03:27:55 AM

Quote from: ConnerDalfino on April 02, 2021, 03:19:46 AM

2-they do not consider that in a digital economy, it is easier to acquire and hold Bitcoin than it is to buy physical gold. Therefore bitcoin has a market value potential that can exceed gold many times over.

Fair point but... gold is used not only as safe haven but also in jewellery, Electronics.

Yes, but only to a small extent. In the Western world, gold is predominantly used as an asset hedge. In countries like India or China, it's a bit different, but even if demand for gold jewelry were to collapse, that wouldn't affect the price of gold that much at the moment.

JP-Morgan's arguments are understandable, even if I am fundamentally skeptical of the bank.

momchilandonov

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Even JP morgan is already bullish, what a great time to live

blockman

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It has been discussed long ago that it's easier to buy and own bitcoin than to buy and own gold. They're just realizing it later when the price has skyrocketed and IIRC, JP Morgan, and its owner was once shown that they don't like bitcoin but that's the agenda for which they've been accumulating already before the others did. $130k is just their prediction but it could go higher than that.

Tytanowy Janusz

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Quote from: Jating on April 02, 2021, 04:05:03 AM

Yes, and I think there's no surprised here. Many has seen bitcoin's narrative has evolved already. Institutions are investing and hedging their balance sheet on bitcoin.

But we all forget that there are still retail investors or traders, which is also very important to keep the ecosystem in check. So it's a balance between institution and retail investors that will fuel the massive pump to six digits this year. So for me, they also need to consider ordinary and average joe traders/investors.

Check out this thread. https://bitcointalksearch.org/topic/m.56696242

IMO institutional investors will push BTC price to unimaginable numbers. Not $130k as JPMorgan estimates. Not even 1M$. Much higher. Retail invesotrs will play almost no role in this pump.

Kong Hey Pakboy

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Isn't JPMorgan's CEO Jamie Dimon hates bitcoin a lot, be careful with their stance people because this is an institution that is owned by hypocrites that says bitcoin is good but at the same time bitcoin is bad. They want to look good to the public because they are creating a bitcoin ETF that is unfavorable to the people that are going to invest in it because you don't own the bitcoin that is in the ETF and there are a lot of flaws and downsides in this ETF, Andre Jikh covered this thing and whether you don't agree with him or not, you have to be careful with JPMorgan.

Jating

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Quote from: Tytanowy Janusz on April 02, 2021, 03:27:55 AM

Quote from: ConnerDalfino on April 02, 2021, 03:19:46 AM

2-they do not consider that in a digital economy, it is easier to acquire and hold Bitcoin than it is to buy physical gold. Therefore bitcoin has a market value potential that can exceed gold many times over.

Fair point but... gold is used not only as safe haven but also in jewellery, Electronics.

I think they also did not take "lost bitcoins" into consideration. I bet that bitcoin is now deflationary. Currnt inflation after fork is only 1.6%. Most likely the amount of lost bitcoins is bigger than 1.6% of supply annually.

Yes, and I think there's no surprised here. Many has seen bitcoin's narrative has evolved already. Institutions are investing and hedging their balance sheet on bitcoin.

But we all forget that there are still retail investors or traders, which is also very important to keep the ecosystem in check. So it's a balance between institution and retail investors that will fuel the massive pump to six digits this year. So for me, they also need to consider ordinary and average joe traders/investors.

Tytanowy Janusz

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Quote from: ConnerDalfino on April 02, 2021, 03:19:46 AM

2-they do not consider that in a digital economy, it is easier to acquire and hold Bitcoin than it is to buy physical gold. Therefore bitcoin has a market value potential that can exceed gold many times over.

Fair point but... gold is used not only as safe haven but also in jewellery, Electronics.

I think they also did not take "lost bitcoins" into consideration. I bet that bitcoin is now deflationary. Currnt inflation after fork is only 1.6%. Most likely the amount of lost bitcoins is bigger than 1.6% of supply annually.

ConnerDalfino

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Limitations of JPMorgan’s analysis:

1-they only consider matching private investment, ignoring public sector holdings

2-they do not consider that in a digital economy, it is easier to acquire and hold Bitcoin than it is to buy physical gold. Therefore bitcoin has a market value potential that can exceed gold many times over.

What are your thoughts?

Topic: JPMorgan sets Bitcoin Target to $130K Predicting Strong Institutional adop. - page 2. (Read 185 times)