In a social media post, investment bank JP Morgan revealed what he thinks about the king of cryptocurrencies. The institution believes that bitcoin (BTC) is still too low and that investors do not consider it at its fair value.
Market in crisis
In February, when bitcoin (BTC) a worth $ 43,400, JP Morgan said cryptocurrency is important and absolutely must be among everyone’s investment options. Its design has not changed at all, although BTC has lost a lot of value in the meantime. Even as BTC has lost 28% of its value, the bank believes it has always useful.
Separately, the bank has shown that it trusts the king of cryptocurrencies so much that it is ready to replace its real estate investment class with digital assets. Cryptocurrencies will be considered as “ alternative assets and possible replacing stocks, bonds and cash.
BTC is currently trading at half its all-time high of $ 68,721. Along with this situation, due to the ongoing war in Ukraine, the cryptocurrency market is facing severe difficulties. Proof of this is the $ 50 billion drop in stablecoin Terra (Luna). Finally, it should be pointed out that the total market capitalization of cryptocurrencies has fallen sharply. She is $ 1.3 trillion today.
Start-ups have a role to play
The situation in the cryptocurrency market is not pleasant, and yet strategists at JP Morgan bank believe that in the future, “We will be upside down for bitcoin and cryptocurrency markets more generally.” They think so too start-up intervention and other companies in the sector will be decisive in fostering market expansion.
Speaking of startups, it should be noted that Starkware is an Ethereum scalable boot $ 100 million raised valued at $ 8 billion and venture giant Andreessen Horowitz announced a $ 1.5 billion allocation for crypto investments.
“To date, there is little evidence that venture capital funding has declined following the fall of Terra. Of the $ 25 billion in VC funding to date, Terra has received almost $ 4 billion, ” note the strategists.
While the cryptocurrency market is not currently in a pleasant time, professionals believe that everything seems to indicate a nice improvement in the future. All of these will allow us to hold digital assets like bitcoin (BTC).
Source: Forbes
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Luc Jose Adjinacou
Far from dampening my enthusiasm, an unsuccessful investment in cryptocurrency in 2017 only increased my enthusiasm. So I decided to study and understand the blockchain and its many uses and put forward my pen information related to this ecosystem.
