JP Morgan Analysts: Bitcoin Price May Be Beyond “Fair Value” in Uptrend

After bitcoin’s recent bullish steam in recent weeks, analysts at JP Morgan, the world’s sixth largest bank, think the bitcoin price appears overextended and could be in for another correction.

That’s per a note created by Nikolaos Panigirtzoglou and other analysts analysts at the firm. The document was first circulated on May 17th, the morning after the bitcoin price fell from $7,800 USD to $7,100.

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