In a recent note to clients, JP Morgan told its clients that Bitcoin’s real value right now would be 38k and its undervalued right now. And even made Crypto to their preferred alternative asset currently. That comes just four years after JP Morgan told investors in 2018 that Bitcoin is going to zero and that they should not buy more.
Just another example for the real metric over short term price action. Banks and highly anti-crypto companies changing their opinion about it completly from its “worthless” to “we are buying the dip”. Even in bear markets they are still standing in crypto, Crypto is not just a shortterm profit maker for them they believe in it for real.
I mean if even once anti-crypto people highly believe in Crypto during a bear market even after the current UST crash then Crypto is definitely not going anywhere, we are taking more and more people on our side. That’s the real mass adoption.