.jpmorgan says bitcoin's fair value estimate, based on its relationship with gold, falls to $38,000. By willcanny99
Bitcoin’s biggest challenge is its volatility and the boom and bust cycles that hinder further institutional adoption, JPMorgan said in a research report.
JPMorgan said its previous forecast of the bitcoin to gold ratio falling to around two times now seems unrealistic. The bank sees significant headwinds for both bitcoin and ethereum going forward.
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