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 $35k.
What do you guys think about this?
I am surprised that they value BTC so high as 35k$, for me, this is a bullish sign. Keep in mind, that they didn’t want to have anything with BTC back in 2017 and it still reached 20k, now they actually acknowledge it, they somehow value it just 15k$ more.
For me they are full of crap and probably trying to lower the price so they can jump in before it gets too high, we all know crypto doesn’t follow classic and predictable movement.