Bitcoin’s “fair value” based on its volatility in comparison with gold (roughly four times as volatile as gold)
- JPM strategists calculated the fair-value level at around $38,000
Bloomberg (may be gated) report on the JPM note:
- In a scenario where the volatility differential narrows to three times, the fair value rises to $50,000, they estimated. “The biggest challenge for Bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,”
- long-term theoretical target for Bitcoin -- a level that would put its total market value on par with that of all gold held privately for investment purposes -- sits at $150,000, up from $146,000 a year ago.
Session's trading for BTC:
