Experts say that the value of Bitcoin could again reach $ 14,000. They say this situation is similar to the rise of the end of 2017
As reported a few days ago in a recent report published by the financial software and news assistance company, Bloomberg, the banking giant JP Morgan Chase & Co. said that due to recent financial movements in the cryptocurrency market, Bitcoin reached a price higher than its marginal cost, reaching above its “intrinsic value”.
The financial analysts of JP Morgan ensured that there was a divergence between the marginal costs and the real value of the digital currency. They say it was adjusted due to a reduction in real prices within the market. “In recent days, the real price of Bitcoin has moved considerably above the marginal cost and this divergence between real and intrinsic values leads to some echoes of the rise at the end of 2017, and at the moment when this divergence solved mainly by a reduction in real prices”.
JP Morgan conducted an extensive financial study to determine the real and intrinsic cost of the cryptocurrency in order to know with certainty its true value and to forecast the near future of that market. With the aim to establish the marginal value of the currency, the experts analyzed Bitcoin from its production cost, taking into account the necessary computational force, the electricity used and the effectiveness of the hardware it needs for its creation. That is, the cryptocurrency was analyzed as a basic product.
Analysts commented that trying to define the real value of a cryptocurrency represented a real challenge due to its nature and rarity within the usual financial processes. Despite the final result, there are still discrepancies in opinions between financial experts, some of whom say that it is impossible to measure their real value, and others who maintain that their value is above the currently price quoted.
“In fact, the points of view vary from some researchers who argue that it has no fundamental value, to others that estimate reasonable values above current prices”, the report says.
Although it has been concluded that Bitcoin has a value above to the current market, the final press report reminds that among the basic principles of the economy the cost of producing a currency, or any product, does not determine its final value, but that it will be quoted for its demand within the markets.
Currently, Bitcoin is quoted at almost $ 8,800. It reached good figures since April, although between February and March its value was less than $ 5,000 and in December of last year, it was around $ 3,300. So who has bought Bitcoin last year has had an approximate gain of 140%.
Other experts mentioned that the financial market within the cryptocurrencies has taken a big turn, and they assure that the bear market has finished, reason why they predict that Bitcoin will reach, again, the 14,000 dollars’ value.
By María Rodríguez
