JPMorgan believes that the fair price of bitcoin is $38,000
JPMorgan analysts named the fair value of the main crypto coin. They think it’s $38,000. Experts also pointed out that digital currencies have overtaken real estate as one of the most preferred “alternative assets”.
Bitcoin is currently at $29,600. With that, the fair value of the asset announced by analysts is 28% higher than the actual one.
“Last month’s cryptocurrency market correction is more like a capitulation compared to the situation in January/February 2021. Going forward, we see upside potential for bitcoin and the cryptocurrency market as a whole,” JPMorgan said in a note to clients.
Experts believe that during the correction, the digital currency market brought more losses, unlike other “alternative investments”, such as real estate. Analysts are sure that this indicates growth prospects.
Brevan Howard CEO Alan Howard spoke about his own investment strategy. He stated that he is investing in different areas of the crypto market in order to extract maximum profit with minimal risk.
The investor noted that he knows a method that ensures that “your income stream will never depend on only one strategy, theme or human factor.”
“Cryptocurrencies have become an asset class that will influence the development of technology and the economy over the years. Since this is a new asset class, I argue that it is most reasonable to diversify your risks by investing in the entire crypto ecosystem at once,” the billionaire said.
He also noted that he is still “actively involved” in various BH Digital initiatives. We are talking about the direction that is included in Brevan Howard Asset Management.
“BH Digital reflects my belief in the importance of investing in the entire ecosystem, regardless of the instrument (e.g. token, capital, NFT, etc.), in a diversified way with good risk management. This ensures that your income stream is never dependent on just one strategy, theme, or risk taker,” Howard explained.
The billionaire named metaverses, stablecoins, games, DeFi, secure smart contracts and cross-network tools as promising for investment industries of the crypto industry.
