[JPMorgan Chase abandons singing bitcoin down to $38,000]
With the recent sharp decline in bitcoin and ifms' joint efforts with governments to rectify, JPMorgan chases ahead of his rhetoric and says its long-term price target of $150,000, which it proposed last year, is unlikely to be met in the foreseeable future.
JPMorgan said: "Our previous prediction that the volatility of Bitcoin and gold will drop to around 2 times later this year seems unrealistic. Based on the current volatility of around 4 times that of Bitcoin versus gold, we believe that the fair value of Bitcoin will be a quarter of $150,000, or $38,000. ”
Bitcoin is currently trading at less than $37,000. JPMorgan Chase was the first to publicly revise its own comments about the Bitcoin market, and realized that the cryptocurrency could not be a real way to pay for it, while drastically lowering its price expectations for Bitcoin.
With the attention of various governments to cryptocurrencies, all kinds of cryptocurrencies on the market under the guise of speculation, speculation, and money laundering will eventually be regulated and restricted and become a "collection".