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.
JP Morgan is sure as a gun that cryptocurrencies have surpassed the real estate market. Source:https://www.pexels.com/
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 He states that its blockchain technology is already outdated and has no demand among investors.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.
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