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According to analysts from the investment bank JPMorgan, today's bitcoin rate is greatly overvalued. The fair price of the cryptocurrency is around $ 35,000.
The financial giant's report says that, unlike gold, BTC is still a highly volatile asset.
The range of cryptocurrency price fluctuations is four times the volatility indicator of the underlying precious metal. If in the coming months we see a decrease in the bitcoin turbulence indicator at least twice, then reaching $ 73,000 for a cryptocurrency will become more than real, and such a value will be quite fair.
Investment bank experts, in general, are optimistic about the prospects for bitcoin. According to their forecasts, in 2022, the price of the coin will not only approach $ 100,000 but will also be able to break through this psychological mark.
By the end of next year, the growth of the crypto market will be more than 15%. Today, the leading digital currency is trading at $ 63,905. October proved to be very successful for bitcoin, at the end of the last month, its value soared by almost 40%.