Bitcoin's Fair Price $38K? - Currently Trading At $29,584.48

1 mo
LeoFinance
2 Min Read
485 words

JPMorgan places BTC fair price at $38K, declares crypto a preferred alternative asset!

In this article posted by Coin Telegraph: Bitcoin's Fair Price $38k, Says Jp Morgan

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Hey Everyone,

There is so much debate about the Bear Market, how low Bitcoin will go, and yet the signs of adoption are everywhere. I ran across this article this morning, and found it interesting in a number of ways.

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The article focuses and acknowledges the collapse of Luna and how well Bitcoin held up to the pressure, suggests that Bitcoin is a strong buy at $29k and uses the same focus to compare BTC to real estate investment as an alternative.

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To be fair most of us in crypto aren't that interested in what the bankers have to say, but to not consider the softening public discussion around Bitcoin and all the moves it has made lately towards adoption would be a simplistic view, because there are now so many funds and VC investors, looking for their opportunity to get in.

Where is Bitcoin At and Where Is It Headed?

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Bitcoin is currently trading at around $29,584 after a dip this morning all they way to $28,000 with a sudden V shaped recovery after and back to about the previous level.

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The current Fear and Greed index is at 12, extreme fear, but is easing since the market seems to have stabilized after Luna/UST crash and the other stable tokens seem to be stabilizing as well. Last weeks fear level was as low as 8, so this is progress. lol

Is it Bear Season? Well it's a least a mini bear season, but let's remember that even bear season isn't straight down, and if you are looking at a long term investments I've got to say that Bitcoin at $30k is a good price over the next few years. It might not be the absolute bottom, but I think it's a good place to get back in.

For those of you more into short term trades, I've got nothing for you as far as finding the bottom, or catching a falling knife.

With the FED seeming to signal fewer interest rate hikes and the Luna mess being priced in already, I think there is a chance we see a slight recovery here vs more down. Again, I have no special training just my observations.

I don't think we see all time highs anytime soon, but I certainly think there will be ups and downs along the way, and today's price seems like a decent place to buy for long term holders.

Recent posts on BITCOIN Prices and Bears and Bulls!

Bitcoin hanging at $30 from 2 weeks ago

https://leofinance.io/@whatsup/bitcoin-hanging-right-around-usd30-000-it-s-the-dips-that-make-the-pumps-fun

When the Market Dumps, get busy engaging, and building
https://leofinance.io/@whatsup/when-the-markets-dump-get-busy-with-engagement-and-building

What are your views of Bitcoin Prices Currently? Let's talk about it in the comments

@whatsup

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I have learnt to focus on the development and adoption of crypto over the price. Last bear season bitcoin was below $10k or even at $5k now bitcoin is on $28k, look at the growth, we have come a long way. Thanks a lot for sharing.

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Yes, each cycle higher highs, higher lows.

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It was below $3100 2019 bottom after topping above 19K. We got plenty of room to go below 20K at least for a little while. Anybody’s guess where the bottom is but we haven’t made the 2022 low yet. That I’d bet $ on. Get cash ready 🙌 we will have a chance to add lower

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Well, frankly, I don't think opinions like JP Morgan etc matters.
Bitcoin has stood tall in all these hard times and now we see guys like him and may be more others recognizing Bitcoin.

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Yeah, I agree the crypto community doesn't care about his opinion, but I would make an argument for other VCs and Banks caring.

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If we compare the current price to how Bitcoin is performing 5 years ago the difference is clear.

It's better to just focus on the long term benefits than the current waves we're seeing.

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That's my view!

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Awesome views

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I don't think we see all time highs anytime soon, but I certainly think there will be ups and downs along the way, and today's price seems like a decent place to buy for long term holders

Actually the ups trend in Bitcoin might not come so soon and it may stay in the range of 30k for next year, but nobody known maybe it will high along the way within six month. Bitcoin this year is a lesson to everyone, and I think it best time for long term Investment.

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True any number of things can happen, and the world economy is at play as well, but here we are.. Making our best choices for long term investment.

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Ohh that's the key "long-term investment

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1

Thanks!

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You're welcome @whatsup, that's a pleasure! Have a nice day 😊👍

1

Relief rally before we dump harder!

3

Thank you for your witness vote!
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0

That could happen as well. When I look at the last bear market there were a lot of middle moves with couple of low dumps and recoveries. Not straight down as many seem to think

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or is it 8k?
or is it 0?😂😂😂

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lol, NO

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are you sure not just an MLM pyramid tho?

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Dan updated his take in 2020. He admitted he was wrong.

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after he bought a bag?🙉🏆

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The way buyers immediately stepped in when price lurched down, is certainly encouraging!

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Yes! Also exchanges are reporting less BTC on hand.

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Also exchanges are reporting less BTC on hand.

Definitely bullish for Bitcoin!

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I don't know where Bitcoin price will go but I believe the 30K is pretty cheap. Even if the price drops, I think that those who buy at these prices will not lose in the future.

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Absolutely correct.

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Is there any way to suggest how low the particular token or coin would go? I don't think there is any. Perhaps the people with very sharp sixth sense (if it exists 🤓) may realize the bottom most price.

What I have observed so far is that crypto is for patient people who are in this realm for long term investment. It involves risk. Sometimes we wait for the dips to buy and price go up. Other times, we wait for the pump to sell while the coin starts dumping. There is no way to be sure of absolute gain or loss. I also think that this is a good time for investment in bitcoin. It has shown resilience over the years and I am sure it would be profitable to invest at these prices

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Yeah, it's hard to find the bottom on anything, or else I guess we'd all be really well off by now.

To your second paragraph, that right, crypto is now longer a get rich quick event, if it ever was, but carefully planned and managed you can get rich steady.

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guess we'd all be really well off by now.

Hehehe.

Yeah. There was a time when crypto appeared like a get rich quickly idea but it is not now. Whenever the Compition in any realm increases, the get rich quickly thing decreaaes

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I don't even know what is a fair price anymore and it's all speculation. Although, I wasn't expecting JPMorgan to put out a bullish prediction so I guess it means they loaded up on enough cheap BTC.

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Yeah, and I know crypto people don't care what JP says, but.. Investors do care.

But your point is well taken

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I am just skeptical because they tend to do these predictions on the normal stock market after they have built a position (after they buy or sell).

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Absolutely, I agree.

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At some point fair price used to be the mining cost of one BTC.

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I don't think using the mining costs will be a good way to put in fair cost. At some point, most people have bought in so BTC won't go up as fast and the institutions will try to control the price on the market.

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That's how it used to be "fair priced" back in the day.

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To be fair most of us in crypto aren't that interested in what the bankers have to say.

You can bet on this one. The fact that bankers say $38,000 is the fair price for BTC means to me that it will go close to the 2017 ATH, shake all the weak hands out and continue its path to $100,000 afterward.

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I read that article, and it is impressive that a centralized company like that believes the real value is $38K and not $8K.

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A bullish call is a bullish call. At least some light in the tunnel.

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It sounds JP Morgan has scooped BTC at favorable prices and is looking at 38k for profits :) I do hope it's not just a one-time deal for them though.

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Interesting read, got to !LUV that fear and greed index.

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