(BTCThe price of ) is close to $44,000. This indicates that there may be a reversal in the current downtrend. But, it is possible that the price will not reach the record highs in one go. Bulls will likely face many obstacles and price action could remain volatile.

Analysts at JPMorgan (NYSE 🙂 In a recent investor letter, it was stated that Bitcoin’s boom and bust cycles are hindering further institutional adoption. The analysts estimate that with volatility four times that of gold, Bitcoin’s fair value is about $38,000. Their fair value for Bitcoin would rise to $50,000 if the volatility is reduced to three times as high as gold.