• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Picture of an Ethereum coin with red downward trendlines behind it
Nexo Logo

JPMorgan Analysts Put Ethereum Fair Value At $1,500, With Bullish Outlook For Bitcoin

Best Owie by Best Owie
8 months ago
in Bitcoin, Ethereum
Reading Time: 3 mins read
Advertisement

Ethereum’s value has hit a recent all-time high above $4,600. However, not everyone agrees that the altcoin is fairly priced. Analysts at JPMorgan fall into this category. Although the altcoin has made great strides in utility recently, the analysts do not believe that the coin is fairly valued. They believed that the fair price of the digital asset is in fact much lower than its current value.

Ethereum has been one of the most successful digital assets in the market. This has been due to the growth of use cases such as decentralized finance and NFTs. Ethereum remains the default blockchain for investors to access these services and this has made its native token, ETH, rally over the months. Despite its use cases, JPMorgan analysts have posited that the coin is overvalued.

Ethereum Should Be $1,500

JPMorgan released the first issue of a publication that focused on cryptocurrencies. The publication would show the firm’s stance on crypto and other digital assets. It opens a window into the firm and how they are viewing investments in the market. Nikolaos Panigirzoglou is at the lead of the new publication and brings his knowledge and expertise in the digital assets space to it.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Related Reading | Bitcoin ETF Inflows Slow Down As Altcoins Interest Rebound

Starting out, Panigirzoglou focused his attention on Ethereum. The second-biggest cryptocurrency by market cap got some not-so-encouraging words from the analyst. According to Panigirzoglou, ETH was wildly overvalued despite its utility in the market. This comes as a surprise to the market as ETH has proven to have more applications than its counterpart bitcoin.

Ethereum price chart from TradingView.com

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!
ETH trading below ATH | Source: ETHUSD on TradingView.com

Panigirzoglou said that ETH’s value was actually much lower than it’s worth now. He put it at 67% less valuable than the current price of the asset, which puts ETH at levels not seen since the beginning of the year. The analysts put forward that they expect the digital asset to begin a downtrend that will put it at 67% less than its current value, which is $1,500.

Panigirzoglou explained that growing competition in the space in which Ethereum operates is the reason for this. “In turn, this creates the risk that the substantial increase in the ethereum network activity over the coming years embedded in the current price of $4,100 might not materialize,” Panigirzoglou said.

Bullish On Bitcoin

In the inaugural issue of the publication, JPMorgan analysts did not have the same bearish sentiment for bitcoin as they did for Ethereum. If anything, their overall outlook for the asset was very bullish. The analysts revealed their future price targets for bitcoin, with both long and short-term targets. Both of these were optimistic for the pioneer cryptocurrency.

Related Reading | FOMO Beware: Spot Bitcoin Buying Volume Remains Low, Despite New ATH

For the short term, JPMorgan analysts put the price of bitcoin at $73,000 in 2022. With only two months left in the year, 2022 is not as far off into the future as one would think. In addition, the long-term outlook for bitcoin was also very bullish. They posited that they saw the price of the digital asset hitting as high as $146,000 in the future.

The analysts attributed their bullish outlook to the volatility of the asset. Also, Panigirzoglou did not see any competition for bitcoin as opposed to Ethereum, which sees a lot of competition from other smart contracts blockchains like Solana and Cardano.

Featured image from CryptoMode, chart from TradingView.com
Tags: bitcoinbtcETHethereumjpmorganmarket analysts
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Best Owie

Best Owie

Related Posts

Bitcoin

Can This Bitcoin Ratio Have Hints For A Bottom?

13 hours ago
World Of Women, screenshot from the website

Blue Chip NFTs 101: The World Of Women Collection, Including And Conquering

1 day ago
bitcoin

Why Bitcoin Could Return To $28,000, But By The End Of 2022

1 day ago
$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

$15k Possible Bottom For Bitcoin? “Delta Cap” Says So

2 days ago
bitcoin bear

New Bitcoin Record Paints Incredibly Bearish Picture As BTC Struggles At $19,000

2 days ago
Bitcoin

Why Bitcoin Could Collapse Another 50%, Says Michael “Big Short” Burry

2 days ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
BC.Game

BC.Game

Review · Visit
Punt Casino

Punt Casino

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit
BC.Game

BC.Game

Review · Visit

Don’t Miss Out On Experts’ Top Crypto Picks! Gnox (GNOX), Algorand (ALGO) And VeChain (VET) Set To Lead Bullish Market

July 2, 2022

LBank Exchange Will List DEBT on July 5, 2022

July 2, 2022

LBank Exchange Will List Metavie Token (METAVIE) on July 5, 2022

July 2, 2022

Holon (HLN) Is Now Available for Trading on LBank Exchange

July 2, 2022

LBank Exchange Will List METAFASTEST (METAF) on July 1, 2022

July 2, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.