{"id":64638,"date":"2022-05-26T09:02:10","date_gmt":"2022-05-26T09:02:10","guid":{"rendered":"https:\/\/www.cryptocabaret.com\/?p=64638"},"modified":"2022-05-26T09:02:10","modified_gmt":"2022-05-26T09:02:10","slug":"jpmorgan-sees-significant-upside-to-bitcoin-replaces-real-estate-with-crypto-as-preferred-alternative-asset","status":"publish","type":"post","link":"https:\/\/www.cryptocabaret.com\/?p=64638","title":{"rendered":"JPMorgan Sees \u2018Significant Upside\u2019 to Bitcoin \u2014 Replaces Real Estate With Crypto as \u2018Preferred Alternative Asset\u2019"},"content":{"rendered":"

\"JPMorgan<\/p>\n

JPMorgan sees \u201csignificant upside\u201d to the price of bitcoin. The global investment bank\u2019s price target for the cryptocurrency is 28% above its current price. JPMorgan has also replaced real estate with cryptocurrencies as its \u201cpreferred alternative asset class along with hedge funds.\u201d<\/strong><\/p>\n

JPMorgan\u2019s Bitcoin Price Target Is 28% Above Current Price<\/h2>\n

Global investment bank JPMorgan published a bullish note on bitcoin and cryptocurrency Wednesday. The bank\u2019s strategists, including Nikolaos Panigirtzoglou, wrote that their price target for bitcoin remains at $38,000, \u201cimplying significant upside for digital assets from here.\u201d<\/p>\n

At the time of writing, bitcoin is trading at $29,784, down 2.4% over the past seven days and almost 25% over the last 30 days. JPMorgan\u2019s fair value estimate for bitcoin is nearly 28% higher than the current price of BTC<\/a>.<\/p>\n

The JPMorgan strategists detailed:<\/p>\n

\n

The past month\u2019s crypto market correction looks more like capitulation relative to last January\/February and going forward we see upside for bitcoin and crypto markets more generally.<\/p>\n<\/blockquote>\n

While the investment bank\u2019s price target for bitcoin is $38K, its strategists have said<\/a> that their long-term theoretical target price for the cryptocurrency is $150K.<\/p>\n

Crypto Becomes JPMorgan\u2019s Preferred Alternative Asset Class, Replacing Real Estate<\/h2>\n

In addition, the global investment bank now sees cryptocurrencies as its \u201cpreferred alternative asset class,\u201d replacing real estate amid soaring mortgage rates.<\/p>\n

JPMorgan detailed that the recent market downturn hurt cryptocurrencies more than other alternative investments, including real estate.<\/p>\n

Noting that this trend suggests crypto has more room to rebound, the strategists wrote:<\/p>\n

\n

We thus replace real estate with digital assets as our preferred alternative asset class along with hedge funds.<\/p>\n<\/blockquote>\n

The JPMorgan note followed a massive sell-off in the crypto market amid the implosion of cryptocurrency terra (LUNA) and algorithmic stablecoin terrausd (UST).<\/p>\n

The strategists noted that while the dramatic collapse of the two cryptocurrencies has weakened the sentiment of many crypto investors, there was little sign so far that venture capital funding into the crypto sector is slowing down.<\/p>\n

Coincidentally, major VC firm Andreessen Horowitz (a16z) announced Wednesday the launch of its new $4.5 billion crypto fund.<\/p>\n

What do you think about JPMorgan\u2019s bitcoin price prediction and the bank replacing real estate with crypto as its preferred alternative asset class? Let us know in the comments section below.<\/strong><\/em><\/p>\n

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JPMorgan sees \u201csignificant upside\u201d to the price of bitcoin. The global investment bank\u2019s price target for the cryptocurrency is 28% above its current price. JPMorgan has also replaced real estate with cryptocurrencies as its \u201cpreferred alternative asset class along with hedge funds.\u201d JPMorgan\u2019s Bitcoin Price Target Is 28% Above Current Price Global investment bank JPMorgan […]<\/p>\n","protected":false},"author":2,"featured_media":64639,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[309],"tags":[],"class_list":["post-64638","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-cryptocurrency"],"_links":{"self":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/64638","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=64638"}],"version-history":[{"count":0,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/posts\/64638\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=\/wp\/v2\/media\/64639"}],"wp:attachment":[{"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=64638"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=64638"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.cryptocabaret.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=64638"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}