JPMorgan reveals during his inaugural report new publication focusing on the structure of alternative investments. Which of course, includes digital assets.
More so, the new report from JPMorgan will be on the release every two to three months.
So, JPMorgan analyst Nikolaos Panigirtzoglou makes bitcoin price predictions. Then, notes its likely to hit $146K in the long term, having a short-term price target of $73,000 for 2022.
“Digital assets are on a multi-year structural ascent, but the current entry point looks…”
“unattractive in our opinion for an investment horizon of 12 months as bitcoin appears to…”
“have returned to overbought territory,”
So, JPMorgan analyst Nikolaos Panigirtzoglou explains further.
“The re-emergence of inflation concerns among investors during September/October 2021…”
“appears to have renewed interest in the usage of bitcoin as an inflation hedge.”
Also, Replying to his “bullish outlook” for BTC in October, JPMorgan analyst Nikolaos Panigirtzoglou writes.
“Bitcoin’s allure as an inflation hedge has perhaps been strengthened by the failure of…”
“gold to respond in recent weeks to heightened concerns over inflation.”
Furthermore, JPMorgan analyst Nikolaos Panigirtzoglou confirms bitcoin’s competition with gold will continue. Particularly, with more millennials investments, preferring cryptocurrencies.
So, JPMorgan analyst Nikolaos Panigirtzoglou explains.
“Considering how big the financial investment into gold is, any such crowding out of gold as…”
“an ‘alternative’ currency implies big upside for bitcoin over the long term,”
Lastly, JPMorgan analyst Nikolaos Panigirtzoglou adds,
“There is little doubt that cryptocurrencies and digital assets more broadly are an emerging…”
“asset class and thus on a multi-year structural uptrend,”
More So, JPMorgan analyst Nikolaos Panigirtzoglou concludes.
“Digital assets have emerged as a clear winner post the pandemic, with retail investors joining…”
“institutional investors such as family offices, hedge funds and real money asset managers…”
“including insurance companies in propagating the asset class.”
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