您现在的位置是:Bitcoin price to struggle above $50k >>正文
Bitcoin price to struggle above $50k
上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛6人已围观
简介JPMorgan analysts think Bitcoin’s record price is unsustainable without lower volatilityThe le...
JPMorgan analysts think Bitcoin’s record price is unsustainable without lower volatility
The leading cryptocurrency is on an extended bull run, surpassing the all-time high of 2017 by over 100%. Despite a massive surge in price in recent months, JPMorgan analysts believe the cryptocurrency’s journey north of $50,000 is unsustainable unless the price swing slows down.
Bitcoin and other cryptocurrencies are known to be highly volatile assets. A key complaint from traditional financial institutions remains the massive price volatility of the cryptocurrency market. Some of these institutions attribute the low institutional presence in the market to the price volatility.
JPMorgan maintains this stand despite the leading cryptocurrency rallying in recent months. According to Reuters, the investment bank’s analysts think the cryptocurrency will have a hard time defending its price above $50,000.
“Bitcoin’s three-month realised volatility, or actual price moves, is 87% versus 16% for Gold–an asset, proponents say it could threaten”, the analysts wrote. Bitcoin is increasingly described as an asset, but its volatility hinders wide acceptance in institutional portfolios.
Despite that assertion, some leading corporate entities like Tesla and MicroStrategy have already invested billions of dollars into the crypto market. An increasing number of publicly-listed companies and financial institutions are also planning on investing in Bitcoin and other cryptocurrencies.
Some experts attribute the current rally to institutional investors entering the cryptocurrency market. However, analysts pointed out that Bitcoin’s total market cap rose to $900 billion from $200 billion in September. Of the $700 billion increase in market cap, institutional investors only invested $11 billion into major trusts and futures markets. Hence, indicating that retail investors still hold significant sway in the market.
The investment bank’s analysis comes at a time when BTC broke the $50,000 psychological barrier. The leading cryptocurrencies rallied past the $50k point and reached a new all-time high above $52,000.
JPMorgan believes other prominent companies might not follow Tesla’s path and invest huge sums into the Bitcoin market. This sentiment was echoed by Wedbush Securities, which claimed that massive institutional entry into the crypto market might not happen in the short-term.
The investment bank’s analysts have taken more interest in Bitcoin in recent months. They regularly provide notes and comments regarding the latest developments in the cryptocurrency space.
Tags:
转载:欢迎各位朋友分享到网络,但转载请说明文章出处“上海品茶网 - 夜上海最新论坛社区 - 上海千花论坛”。http://www.jz08.com.cn/news/513951.html
相关文章
China to distribute over $6M worth of digital currency in a new trial
Bitcoin price to struggle above $50kThe latest efforts in China’s bid to implement a Central Bank Digital Currency (CBDC) are comi...
阅读更多
XLM price prediction as Coinme integrates USDC on Stellar
Bitcoin price to struggle above $50kXLM price is up nearly 5% as it trades around $0.095.The Stellar price looks poised to retest resist...
阅读更多
RenVM launches bridge to Polygon
Bitcoin price to struggle above $50kThe integration means people can now use their Bitcoin, Bitcoin Cash, Zcash, and Dogecoin with Dapps...
阅读更多
热门文章
- BMW and Figure to bring humanoid robots to car manufacturing
- CoinJournal Roundtable panel US election 2020
- Watch: Solar storm eruption in a high
- Tezos (XTZ) price outlook as Smart Rollups go live on Tezos
- Samsung's Ballie robot is back with a vengeance at CES 2024
- Ethereum price prediction as the Shanghai update draws near
最新文章
Metacade’s Token Sale has Taken Crypto Markets by Storm – as Experts Predicted
Cosmos Price Predictions For 2023. Could AltSignals' ASI Token Outperform ATOM?
BTC shows signs of weakening after new ATH
Bitcoin Hits $40k As The Bull Run Skyrockets
Bitcoin price prediction for June — is the microbear market nearly over?
eToro announces an educational partnership with Twitter