Banking giant JP Morgan analyst Nikolaos Panigirtzoglou dated May 22 report According to Bitcoin, its value is below. The report notes that the largest cryptocurrency with market value is trading 25 percent below the price that should have been after halving.
As it is known, block rewards decreased from 12.5 to 6.25 in halving. When the report was published, JP Morgan set the real price of Bitcoin as $ 11,593.
JP Morgan is known to have viewed Bitcoin negatively for a long time in the past. Last year, analysts at the investment bank said that Bitcoin exceeded its real value after the price exceeded the marginal cost. Earlier this year, bank analysts stated that Bitcoin poses several risks.
In September 2017, CEO Jamie Dimon stated that if anyone sees or hears Bitcoin, he will fire those people. Dimon said it was because Bitcoin was stupid and against company rules.
The new report of JPMorgan and its significant change in Bitcoin sensitivity comes after the bank accepted the cryptocurrency exchange Coinbase and Gemini as customers and put an end to the anti-crypto era.
Finally, it was revealed that JPMorgan had been negotiating to join the ConsenSys company, which developed Ethereum applications in the past months, with its own blockchain unit Quorum.
Disclaimer: What is written here is not an investment advice. Cryptocurrency investments are high-risk investments. It is recommended to seek help from a counselor if you do not have enough experience and knowledge. Every investment decision is under the responsibility of the individual. CyclicMint and the author of this content cannot be held responsible for personal investment decisions.