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JPMorgan predicts bitcoin price will go down as far as $25,000

Tuesday, July 20, 2021 - 05:00

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(Forbes) It would still take price declines to the $25,000 level before longer-term momentum would signal capitulation," JPMorgan strategists led by Nikolaos Panigirtzoglou wrote in a note first reported by Bloomberg, giving bitcoin a fair value between $23,000 and $35,000 over the medium term, based on a comparison of its volatility versus gold.

"Despite this week's correction we are reluctant to abandon our negative outlook for bitcoin and crypto markets more generally," the analysts wrote, adding that though there has been "some improvement, our signals remain overall bearish."

Meanwhile, the lowest the Bitcoin got is $29,500 on June 22nd.


Submitted by AviG on Sun, 07/04/2021 - 05:20