JPMorgan Chase has reduced the predicted rate of Bitcopoin by almost 4 times

In January 2021, analysts at the American bank JPMorgan Chase predicted that in the long term, the Bitcoin exchange rate would increase to $146,000. A year later, they significantly adjusted their forecast.

The fall in the BTC rate by 50% in two months was another confirmation of the nature of the boom-bust cycle, which is why many organizations still refuse to add Bitcoin and other cryptocurrencies to their investment portfolio.

The JPMorgan Chase report indicated that the forecast for a fall in the ratio of BTC volatility to gold by up to two times turned out to be unrealistic. In this regard, analysts have reduced the fair value of Bitcoin to $38,000. Moreover, they do not exclude that in the future quotes may sink even more.

Source: Bbusiness Insider