Salutations.
I suppose I should start off with the obligatory first post statement of I am long-time watcher of this eclectic thread. It can be quite entertaining at times. In regards to the recent price action and wall watching or whatever it is that is done here. It seems as if Wall Street has already determined what Bitcoins value is going to be with a volatility ratio comparison to gold. I am not quite certain how I feel about this, especially coming from JPMorgan. Literally in my opinion the belly of the beast. Any comments or thoughts from the esteemed members of this community?
Panigirtzoglou and his team have our call of the day, giving bitcoin a fair value of $23,000 to $35,000 over the medium term, based on the relationship between its volatility and gold’s, as the crypto faces new headwinds.
https://www.marketwatch.com/story/heres-how-much-bitcoin-is-worth-says-jpmorgan-as-crypto-faces-this-summer-headwind-11624533578