JP Morgan analysts say bitcoin's most probable price outcome is to never hit 100k as it is terribly overpriced. JPMorgan Chase & Co. strategists recently
released a report where they mention that Bitcoins's price is overpriced and for it to hit the 100k mark it would need to have volatility decreased. They point out that Bitcoin is now being traded above 60k but the true price for Bitcoin should be $35k.
What do you guys think about this?
Nothing is impossible if the price of BTC reaches $100, day by day more and more people are buying and using BTC to trade and invest. Massive adoption of Bitcoin because Bitcoin has very profitable uses such as, as a means of payment, investment, trading. The number of bitcoins is limited, which is only 21 million Bitcoins, many people think that the price of bitcoin will continue to rise from year to year because there is too little supply of Bitcoin.
Would be always on simple economics subject in regarding about the law of supply and demand which it is very normal that price will eventually bloat out but will vary on the demand we are seeing and considering that bitcoin does have limited supply and the demand is high then we would really be seeing those numbers and it would really be just depending or in matter of time on when it would happen and lets not remove those possibilities
and its better not to be that optimistic or hopeful because anything could happen along the way.