JPMorgan: Bitcoin futures are oversold, while silver has turned overbought. The long-term target price for gold is $8,500.

BTC-2,36%

PANews January 31 News, according to The Block, Morgan Stanley analysts stated that Bitcoin futures appear to be oversold, while gold and silver futures have entered overbought territory, as investors are increasingly favoring precious metals over Bitcoin in both retail and institutional channels.
Although precious metals face short-term risks, analysts remain optimistic about gold’s long-term prospects. They indicated that both private investors and central banks are continuously increasing their allocations to gold. The analysts reiterated that if households continue to substitute gold for long-term bonds as a hedge against stocks, the proportion of private investors’ gold holdings could rise from the current slightly above 3% to about 4.6% in the coming years. Under this scenario, analysts believe the theoretical range for gold prices could reach $8,000 to $8,500 per ounce.

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PTDpro28vip
· 01-31 01:13
ETH shows the formation of an symmetrical triangle. The overall cryptocurrency market capitalization is forming a right-angled expansion pattern. ‍$ETH $BTC $GT
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