Representatives of the banking institution JP Morgan Chase say that the latest Bitcoin rally has led to the fact that the market price of cryptocurrency currently exceeds the "intrinsic value" of BTC.
JP Morgan analysts claim that over the past few days, the actual cost of BTC has rapidly surpassed marginal costs. The difference between the actual and internal price indices of BTC is reminiscent of the situation at the end of 2017 — then this discrepancy was eliminated, first of all, by a reduction in the actual cost of Bitcoin.
Determining the fair value of a cryptocurrency is a complex process. For example, expert opinions are quite different – some believe that BTC has no fundamental value at all, others argue that the intrinsic value of the flagship cryptocurrency is much higher than the market value.
Recall that in 2017, Jamie Dimon, CEO of JP Morgan, said that Bitcoin is a scam, a little later, however, Dimon relented a little and said that he simply does not care about Bitcoin. Later it became known that the banking giant is developing a “digital currency”, which is neither a cryptocurrency nor a stablecoin – the development team, however, uses blockchain technology.
