The World of finance has come a long way
There was a time when big financial institutions would not touch BTC or other crypto's even with a barge pole.
however things are changing fast and BTC and crypto in general is cementing itself as a trusted asset class.
Now even when the big guns of finance even mention the word BTC or crypto in a positive light it cause an uptick in the crypto's price.
Is the current depressed financial markets responsible for this shift ?
As the global markets are stressed there is always the perpetual search for more profitable opportunities.
How positive news helps crypto ?
On 25th May 2022 as per a JP Morgan report the price of BTC is undervalued and can be higher by 28% to reach its fair value.
Post this news the BTC charts have been quite buoyant and BTC price is flirting with green ticks.
The reason for this upbeat mood
As per JPMorgan strategist and analyst, Nikolaos Panigirtzoglou this is what JP Morgan analysis of BTC investment is as follows
- According to JP Morgan BTC is the preferred asset along side hedge funds as compared to real estate as investment.
This is due to the effect of high mortgage rates.
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The crypto markets have seen considerable decline and JP Morgan sees it as more lucrative opportunity as compared to real estate.
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It is being cited that crypto and hedge funds have a better bounce back opportunity as compared to real estate.
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As BTC is seen below its fair price so it has emerged as a preferred opportunity by JP Morgan.
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When the report came on 29th May 2022 The Price was in the $29000 price range.
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The long term value of BTC remains at $150000
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The report also cites the damage caused by the LUNA Terra crash to the crypto space.
However the silver lining seems to be the fact that the Venture Capital funding has not really slowed down.
This seems to be the other bright spot in the dark skies of crypto.
