​​JPMorgan named cryptocurrencies as the preferred alternative | Best Crypto Traders Official

​​JPMorgan named cryptocurrencies as the preferred alternative asset

Since the start of 2022, cryptocurrencies have plummeted as investors turned away from riskier investments, but investment bank JPMorgan recently stated that it believes the fair price of bitcoin is 28% higher than the current level, seeing upside potential for this asset and cryptocurrencies in general after sales, writes Business Insider.
Bank strategists including Nikolaos Panigirtzoglou wrote on Wednesday that cryptocurrencies have overtaken real estate as one of their preferred “alternative assets,” meaning those that don’t fall into typical categories like stocks and bonds.
The bank said it stands by its view that $38,000 is a fair price for bitcoin. This is 28% higher than BTC's $29,722 level on Wednesday morning.

The reason for the fall of cryptocurrencies in 2022 was a number of factors, including: rising inflation and interest rates, the conflict in Ukraine and the slowdown in the Chinese economy, which forced investors to abandon assets that are considered risky.