{"id":22721,"date":"2025-04-04T14:23:26","date_gmt":"2025-04-04T11:23:26","guid":{"rendered":"https:\/\/forklog.com\/en\/jpmorgan-bitcoins-status-as-digital-gold-diminishes\/"},"modified":"2025-04-04T14:23:26","modified_gmt":"2025-04-04T11:23:26","slug":"jpmorgan-bitcoins-status-as-digital-gold-diminishes","status":"publish","type":"post","link":"https:\/\/forklog.com\/en\/jpmorgan-bitcoins-status-as-digital-gold-diminishes\/","title":{"rendered":"JPMorgan: Bitcoin&#8217;s Status as &#8216;Digital Gold&#8217; Diminishes"},"content":{"rendered":"<div class=\"wp-block-text-wrappers-keypoints article_keypoints\">\n<ul class=\"wp-block-list\">\n<li>The outflow from ETFs and high volatility highlight the weakening narrative of bitcoin as &#8216;digital gold&#8217;.<\/li>\n<li>The fair value of the leading cryptocurrency is estimated at $71,000.<\/li>\n<li>An analyst predicted a rally for altcoins with high utility.<\/li>\n<\/ul>\n<\/div>\n<p>High volatility and outflows from BTC-ETFs undermine the perception of the leading cryptocurrency as digital gold, while its traditional counterpart experiences increased demand, according to JPMorgan, reports <a href=\"https:\/\/www.theblock.co\/post\/349432\/jpmorgan-bitcoin-digital-gold-debasement-trade\">The Block<\/a>.<\/p>\n<p>Analysts anticipate further growth in precious metal prices as the main beneficiary of the <span data-descr=\"investment strategy aimed at protecting capital from inflation, fiat currency devaluation, and declining purchasing power\" class=\"old_tooltip\">debasement trade<\/span> strategy.<\/p>\n<p>They noted that gold has risen to a record $3100 per ounce, while bitcoin has depreciated since the beginning of the year due to its correlation with stocks.<\/p>\n<p>According to JPMorgan, the current rate of $83,700 exceeds the estimated production cost of $62,000, which has &#8220;historically served as an empirical lower bound for prices.&#8221;<\/p>\n<p>Experts calculate that the fair price for bitcoin is $71,000, considering volatility and compared to the $5 trillion capitalization of gold held by private investors. An additional $4 trillion is held by global central banks. In total, this represents a 3.5% share of global financial assets, they clarified.<\/p>\n<h2 class=\"wp-block-heading\"><strong>And what about altcoins?<\/strong><\/h2>\n<p>Real Vision&#8217;s chief analyst Jamie Coutts mentioned a potential &#8220;final rally&#8221; for altcoins in June.<\/p>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">? Alpha time: Journey Man LIVE w\/ the great <a href=\"https:\/\/twitter.com\/Jamie1Coutts?ref_src=twsrc%5Etfw\">@Jamie1Coutts<\/a> <a href=\"https:\/\/t.co\/Va7SeReuoF\">https:\/\/t.co\/Va7SeReuoF<\/a><\/p>\n<p>\u2014 Raoul Pal (@RaoulGMI) <a href=\"https:\/\/twitter.com\/RaoulGMI\/status\/1907885565640319262?ref_src=twsrc%5Etfw\">April 3, 2025<\/a><\/p><\/blockquote>\n<p> <script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to the expert, only coins with real utility and strong network activity will benefit.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p>&#8220;We will definitely see a recovery in some of these higher-quality names. The question is whether it will be a sustainable rise that lasts for 6-12 months,&#8221; Coutts noted.<\/p>\n<\/blockquote>\n<p>The chief analyst of Real Vision is convinced that by this time, the price of the leading cryptocurrency will return to its historical high.<\/p>\n<p>Previously, CryptoQuant<a href=\"https:\/\/forklog.com\/en\/news\/the-trump-factor-1057-btc-move-after-years-of-dormancy\"> linked<\/a> the current<a href=\"https:\/\/forklog.com\/en\/news\/ethereum-falls-to-lowest-against-bitcoin-since-may-2020\"> drop in ETH\/BTC to lows not seen since 2020<\/a> with an unfavourable on-chain picture.<\/p>\n<p>Later, the firm&#8217;s specialists<a href=\"https:\/\/forklog.com\/en\/news\/cryptoquant-reports-intensified-bearish-conditions-for-bitcoin\"> reported<\/a> an intensification of bearish conditions in bitcoin.<\/p>\n<p>CryptoQuant&#8217;s founder and CEO Ki Young Ju stated <a href=\"https:\/\/forklog.com\/en\/news\/cryptoquant-ceo-declares-end-of-bitcoin-bull-market\">the end of the bull run<\/a> for digital gold. He predicts that in the next six months to a year, prices will either decline or remain sideways.<\/p>\n<p>As reported in Nansen, <a href=\"https:\/\/forklog.com\/en\/news\/nansen-predicts-crypto-market-bottom-by-june\">it was suggested<\/a> that the crypto market could reach its bottom by June.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The outflow from ETFs and high volatility highlight the weakening narrative of bitcoin as &#8216;digital gold&#8217;. The fair value of the leading cryptocurrency is estimated at $71,000. An analyst predicted a rally for altcoins with high utility. High volatility and outflows from BTC-ETFs undermine the perception of the leading cryptocurrency as digital gold, while its [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":22720,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,1146,536,229,1150,1138],"class_list":["post-22721","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-cryptocurrency-market-forecasts","tag-gold","tag-jpmorgan","tag-news-plus","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"23","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22721","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/comments?post=22721"}],"version-history":[{"count":0,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/posts\/22721\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media\/22720"}],"wp:attachment":[{"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/media?parent=22721"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/categories?post=22721"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/forklog.com\/en\/wp-json\/wp\/v2\/tags?post=22721"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}