Source: CryptoNewsNet
Original Title: JPMorgan Retains Gold-Linked $170K Bitcoin Target Despite Recent Plunge
Original Link:
Despite bitcoin’s recent sharp price declines, JPMorgan is sticking to its volatility-adjusted BTC-versus-gold model target which points to a theoretical price near $170,000 over the next six to 12 months.
The world’s largest cryptocurrency was trading around $91,200 at publication time.
MicroStrategy (MSTR) is a key driver for bitcoin, with markets watching its enterprise value-to-bitcoin holdings (mNAV) ratio, now about 1.13, as a key read on forced-selling risk if it slips below 1.0, analysts led by Nikolaos Panigirtzoglou wrote in the Wednesday report.
It’s encouraging that the company’s mNAV is still holding above 1.0, the report said.
The analysts pointed to the company’s $1.4 billion reserve fund as a buffer against needing to sell bitcoin, and flagged MSCI’s Jan. 15 index decision as an asymmetric catalyst: exclusion is largely priced in after the stock’s steep fall since Oct. 10, while a positive outcome could fuel a sharp rebound.
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Ramen_Until_Rich
· 20h ago
Morgan is really persistent, huh? Even after such a drop, he's still holding on to the $170,000 target... Is it true faith, or are all those data model guys this stubborn?
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tokenomics_truther
· 12-06 22:54
JPMorgan is still stubbornly holding the 170,000 level... Ha, that's bold talk.
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NotFinancialAdvice
· 12-05 16:40
JPM is still something this time. Even after the drop, they still dare to stick to the 170K target. Either they're really confident or really good at selling dreams, haha.
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FlippedSignal
· 12-05 16:27
Is JPMorgan still sticking to 170k? These people are really bold.
View OriginalReply0
MetaverseMigrant
· 12-05 16:22
JPMorgan is still hyping it up. Can it really reach 170K? Let me laugh first.
JPMorgan Retains Gold-Linked $170K Bitcoin Target Despite Recent Plunge
Source: CryptoNewsNet Original Title: JPMorgan Retains Gold-Linked $170K Bitcoin Target Despite Recent Plunge Original Link: Despite bitcoin’s recent sharp price declines, JPMorgan is sticking to its volatility-adjusted BTC-versus-gold model target which points to a theoretical price near $170,000 over the next six to 12 months.
The world’s largest cryptocurrency was trading around $91,200 at publication time.
MicroStrategy (MSTR) is a key driver for bitcoin, with markets watching its enterprise value-to-bitcoin holdings (mNAV) ratio, now about 1.13, as a key read on forced-selling risk if it slips below 1.0, analysts led by Nikolaos Panigirtzoglou wrote in the Wednesday report.
It’s encouraging that the company’s mNAV is still holding above 1.0, the report said.
The analysts pointed to the company’s $1.4 billion reserve fund as a buffer against needing to sell bitcoin, and flagged MSCI’s Jan. 15 index decision as an asymmetric catalyst: exclusion is largely priced in after the stock’s steep fall since Oct. 10, while a positive outcome could fuel a sharp rebound.