جے پی مورگن کا کہنا ہے کہ قیمت کے کریش کے درمیان بٹ کوائن کی حقیقی قدر $35,000 پر رکھی گئی ہے۔

JPMorgan says Bitcoin’s true value is set at $35,000, taking a positive approach towards the cryptocurrency as the research analysts of the bank said institutional investors are swapping BTC for gold for the first time in six months. In today’s Bitcoin news, ہم اس کے بارے میں مزید پڑھ رہے ہیں۔

This comes after Bitcoin took a major tumble dropping to the lows above $30,000 and earlier this year, JPMorgan analysts updated a BTC price target of $130,000 while according to Business Insider, Bitcoin would have to reach the target price and match the total private sector investment in gold. The investment bank warned that the convergence in volatilities between BTC And gold is not going to happen fast and it is only a multi-year process that makes the $130,000 price a long-term target.

JPMorgan took steps to support BTC and to help the institutional investors access the cryptocurrency and according to the CEO Jamie Dimon, the clients are still interested and he cannot tell them what to do so JPMorgan will even help them buy BTC if the clients want to. Dimon who called BTC a fraud before saying that he regretted the comments, said he will support the clients to buy BTC but he himself is not a Bitcoin supporter. The support from the world’s biggest bank by market cap would be valuable for BTC.

Most supporters of BTC have long argued that BTC is the digital gold but according to the research, institutional investors are choosing to swap digital gold for traditional gold and this is at a time where BTC dropped to lows of half at the price of the peak. After reaching the highs of $60,000, BTC is still کے تحت $40,000 after the uptick in price with the futures market also seeing strong liquidations while gold ETFs saw rising inflows.

As a result, JPMorgan stated that the current fair value price for BTC will be set at $35,000 based on the volatility ratio between BTC and gold. The inflation-driven investment can also lead to a bigger growth of BTC as it led many institutional investors to look for safer assets. BTC often was seen as a hedge against the US dollar while gold is the traditional asset for the ones that are trying to escape the USD inflation.

Source: https://www.dcforecasts.com/bitcoin-news/jpmorgan-says-bitcoins-true-value-is-set-at-35000-amid-price-crash/