JPMorgan questions if the rise of bitcoin can continue.
JPMorgan experts predict that the rise in bitcoin prices will be tactical rather than the start of a sustained rally.
Experts claim that the current price of bitcoin greatly surpasses the cost of manufacturing and appears overpriced when compared to the "fair" price of $53,000 for gold, which has been adjusted for volatility. Long-term growth potential is constrained by quote deviations that are higher than the final parameter.
Analysts, however, are optimistic that August's market dynamics will be favorable because of the dispersion of coins among Gemini and Mt. Gox customers as well as the diminished impact of German government actions. In this instance, the price of bitcoin will increase.
In this scenario, the price of bitcoin will approach the gold futures, where recent growth has been noted.
Experts claim that the current price of bitcoin greatly surpasses the cost of manufacturing and appears overpriced when compared to the "fair" price of $53,000 for gold, which has been adjusted for volatility. Long-term growth potential is constrained by quote deviations that are higher than the final parameter.
Analysts, however, are optimistic that August's market dynamics will be favorable because of the dispersion of coins among Gemini and Mt. Gox customers as well as the diminished impact of German government actions. In this instance, the price of bitcoin will increase.
In this scenario, the price of bitcoin will approach the gold futures, where recent growth has been noted.