JPMorgan Chase Strategist Predicts Imminent $150 Billion Stock Sell-Off, Bitcoin Price Holds Steady

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JPMorgan Chase analyst predicts that the stock market could soon experience a significant outflow of billions of dollars in capital. Nikolaos Panigirtzoglou, a JPMorgan strategist, suggests that institutional investors are ready to rebalance their portfolios to meet their allocation targets.

In a recently published research note, JPMorgan, a prominent global investment bank, unveiled its long-term price prediction and fair value assessment for Bitcoin. Led by Nikolaos Panigirtzoglou, JPMorgan Chase & Co.’s strategists noted that their theoretical target for Bitcoin, in the long run, is $150,000. This represents an increase from their previous prediction of $146,000 made last year.

According to the analysts, if Bitcoin reaches the projected level of $150,000, its market value would align with the total value of privately held gold for investment purposes. This implies a significant milestone in the cryptocurrency’s growth.

The researchers further clarified that the current “fair value” of Bitcoin stands at approximately $38,000, representing an increase from the $35,000 estimate made in the previous year. They derived this fair value by considering Bitcoin’s volatility around four times higher than gold’s.

Moreover, the analysts highlighted that if the volatility gap narrows to three times, the fair value of Bitcoin will surge to $50,000, indicating the potential for even greater growth. According to the JPMorgan strategists’ written analysis, “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption.”

In the meantime, findings from a survey conducted by JPMorgan among its clients indicate that most participants anticipate Bitcoin’s price to surpass $60,000 within the current year. Despite this sentiment, JPMorgan still provides certain cryptocurrency investment options to its clients.


However, it’s worth noting that JPMorgan’s CEO, Jamie Dimon, maintains his cautious stance on crypto investments. He consistently cautions individuals about these assets’ lack of intrinsic value. He previously described Bitcoin as having no worth and raised doubts about its limited supply during remarks made in October of the preceding year.


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