According to Bloomberg’s report, banking giant JPMorgan said that the fair value of Bitcoin is $ 35,000. This figure is 44% lower than the current $63,000 price.
The bank’s estimate is based on the volatility of crypto and its comparison with gold.
Bitcoin currently has 4 times more volatility than gold.
JPMorgan claimed that higher prices are unattractive, despite the possibility of further upside.
Billionaire Peter Thiel emphasized that Bitcoin could experience an extreme rise above $ 60,000, and this increase could be a sign of out-of-control inflation.
Despite these rhetoric, JPMorgan believes that the asset could exceed $100,000 in 2022 if there is no major decline.
Last month, JPMorgan CEO Jamie Dimon angered the crypto community by saying that Bitcoin was “worthless”.