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JP Morgan Revises Bitcoin Target To $130,000, Citing Decreased Volatility

johnNjohnN
in Other Investing
https://www.nasdaq.com/articles/jp-morgan-revises-bitcoin-target-to-$130000-citing-decreased-volatility-2021-04-04

JP Morgan Revises Bitcoin Target To $130,000, Citing Decreased Volatility

The financial giant is gradually becoming more bullish on Bitcoin and institutional adoption.

JPMorgan, in an email note released to clients on Thursday, cited decreasing Bitcoin volatility as a positive for institutional interest in the asset. In an article covering the release by Bloomberg, strategists including Nikolaos Panigirtzoglou at JPMorgan wrote:

“These tentative signs of Bitcoin volatility normalization are encouraging… In our opinion, a potential normalization of Bitcoin volatility from here would likely help to reinvigorate the institutional interest going forward.”





Maybe reasonable to tiptoe in further?

Comments

  • LewisBraham
    edited April 2021
    Based on what? Traditionally, when one analyzes a company's stock, you look at the company's business fundamentals, its prior growth rate, profit margins on products, the size of its end market and potential market share, valuation and prevailing interest rates relative to stock valuation. From that analysts project a cash flow, an expected valuation and a target price for the stock. And that, by the way, is still often wrong. What kind of info do we have for bitcoin other than its past price momentum and volatility. This analyst is looking at its price movements and the replacement of the gold market with bitcoin. I'm not sure how valid that is.
  • MarkMark
    Imaginary money - imaginary valuation. What could go wrong.
  • catch22catch22
    I recall jp morgan and other big banks forecasting treasury rates for the 10 year going to 5% in 2010-2012 (more or less). Nope, they didn't get that right.............
    The big kids get fooled, too; with how smart they think they may be.
  • Simon
    In the not too distant future one Bitcoin could be worth over $1,000,000,000.

    https://www.investopedia.com/bitcoin-halving-4843769
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