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JPMorgan Analysts Say Bitcoin Is Cheap Compared to Gold
A team of analysts led by JPMorgan strategist Nikolaos Panigirtzoglou said bitcoin is currently oversold relative to gold estimating bitcoin would need to rise above $170K to reach gold’s private-investor level of investment.
He stated: Having been $36,000 too high compared with gold at the end of last year, Bitcoin is now around $68,000 too low...
This means that bitcoin’s current fair price would be around $170K, which would open the doors for a massive upswing in the coming months.
In the mean time exchanges like Bitget and others diversifying into stock futures contracts surpassing $1 billion in cumulative trading volume during this period while offering there users Halloween events...
Blackrock also adopted this as they recently announced plans to tokenize US stocks and give users other other pairs to trade and invest especially during periods like these when crypto is dumping...
overall, while price action is always uncertain as bitcoin usually trades like a risk asset, adoption is scaling and regulation is currently underway, making bitcoin an attractive asset for institutions that still haven’t entered the crypto market.
what's your thought on Gold price and the recent dip by Bitcoin?
#cryptocurrency
A team of analysts led by JPMorgan strategist Nikolaos Panigirtzoglou said bitcoin is currently oversold relative to gold estimating bitcoin would need to rise above $170K to reach gold’s private-investor level of investment.
He stated: Having been $36,000 too high compared with gold at the end of last year, Bitcoin is now around $68,000 too low...
This means that bitcoin’s current fair price would be around $170K, which would open the doors for a massive upswing in the coming months.
In the mean time exchanges like Bitget and others diversifying into stock futures contracts surpassing $1 billion in cumulative trading volume during this period while offering there users Halloween events...
Blackrock also adopted this as they recently announced plans to tokenize US stocks and give users other other pairs to trade and invest especially during periods like these when crypto is dumping...
overall, while price action is always uncertain as bitcoin usually trades like a risk asset, adoption is scaling and regulation is currently underway, making bitcoin an attractive asset for institutions that still haven’t entered the crypto market.
what's your thought on Gold price and the recent dip by Bitcoin?
#cryptocurrency
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