JPMorgan predicted the growth of bitcoin by 28%

The fair value of bitcoin is 28% higher than its current price, strategists at JPMorgan , the largest US investment bank, are sure . They also named cryptocurrencies as one of their preferred alternative asset classes, CoinDesk writes, citing a report from the bank to clients.

After the sell-off in the cryptocurrency market, significant growth will follow, according to JPMorgan. They believe that the fair price for bitcoin is currently $38,000, while in fact the asset is trading at $29,000.

According to JPMorgan, cryptocurrencies have suffered more than other alternative investments like investment funds and real estate as a result of the sell-off. This indicates that digital assets have additional recovery options.

JPMorgan said that the fall of LUNA did not affect venture capital funding for cryptocurrencies. Now the bank classifies such alternative investments as undervalued.

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