The investment bank told which assets it is better to invest in next year and predicted the growth of cryptocurrencies
The fair value of bitcoin is $ 35 thousand, JPMorgan analysts concluded, writes Bloomberg . They compared the first cryptocurrency to gold and emphasized that the volatility of the price of a digital asset is four times that of the precious metal.
If the fluctuations in the bitcoin rate are halved, then the goal of $ 73 thousand can be called reasonable, experts say.
“The generally accepted forecast for next year is the target for Bitcoin at $ 100,000.
However, this will hardly be achieved without a significant decrease in volatility.
Digital assets are in a multi-year uptrend, but current levels are not attractive to buy, ”JPMorgan said.
Investment bank analysts predict the growth of the crypto market next year at 15%. At the same time, JPMorgan advises clients to invest in hedge funds and real estate.
According to experts, they will outperform traditional assets such as stocks and bonds in terms of profitability.
As of November 3, bitcoin is trading at a level of $ 62.9 thousand. Last month, the cryptocurrency updated its historical maximum value at around $ 67 thousand.