A financial company JP Morgan has its stakes in cryptocurrencies and throw shades on real estate market. The well-known analysts believe that crypto market is superior to real estate market.
According to Fortune.com, JP Morgan says cryptocurrencies have replaced the real estate market as an alternative asset class. According to a hitherto statement, an illustrious financial firm JP Morgan is dead sure that cryptocurrencies have already surpassed the real estate market in their demand.
In a new report by Fortune, JP Morgan analysts led by Nikolaos Panigirtzoglou state that bitcoin still has a huge room for growth, and the real estate market will see tremendous inflation and downfall in demand.
Panigirtzoglou believes that the real price value of bitcoin should be around $38000, now the digital gold is trading at $29300, which is 30% lower than the real BTC value. According to JP Morgan strategists, the current correction of the cryptocurrency market was inevitable, and we may see a mind-blowing bullrun down the road.
JP Morgan believes that the current outflow of funds from the cryptocurrency market, which resulted in the cryptocurrency market loss of a trillion dollars, has almost no effect on the rate of infusion of various corporations into cryptocurrencies.
However, not all JP Morgan analysts are in the same boat. A long-known critic and a JP Morgan CEO Jamie Dimon believes that BTC is a fluke. He states that its blockchain technology is already outdated and has no demand among investors.
We’ve reported that JP Morgan launches digital mobile bank in the UK.