Bitcoin’s Price Must Pass $40K to Halt Exodus of Traders: JPMorgan Analysts
A bearish outlook may be triggered if bitcoin doesn't claw its way back over $40,000, the analysts said.
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Much of bitcoin’s recent rally has been attributed to the tremendous success of the first bitcoin ETF to trade on Wall Street. The ProShares ETF had seen over $1 billion in trading volume in the first 24 hours alone. However, JPMorgan analysts do not believe that this is the driving force behind BTC breaking a […]
Analysts from JPMorgan believe that the metaverse gaming market could explode in China even with the current state of regulation, which presents certain difficulties for adoption. Companies like Tencent, Netease, and Bilibili are JPMorgan’s picks when it comes to taking advantage of this potential growth, that at best, might pass the $100 billion mark.
JPMorgan Analysts Believe Metaverse Gaming Set to Boom in China
The metaverse and the market derived from this new industry trend have been objects of study by different institutions interested to enter this newfound market.....
JPMorgan Chase has released an investor note stating that the cryptocurrency market appears “to be beginning the process of healing.” In the short term, however, the JPMorgan analysts expect further sell-offs before capitulation. JPMorgan’s Crypto Market Outlook JPMorgan Chase’s analysts, including Josh Younger and Veronica Mejia Bustamante, wrote about the outlook of the cryptocurrency market in a note published Friday. They explained that the near-term outlook for the crypto market is “challenging,” noting that blockchain data suggests recent....
JPMorgan’s analysts have warned about the odds of a bitcoin correction which would increase if the flows into Grayscale’s bitcoin trust slow significantly. The analysts indicated that bitcoin is “overbought.” JPMorgan Reveals Bitcoin’s Outlook The analysts at JPMorgan Chase & Co. gave their bitcoin prediction in a note on Friday. They explained that flows into Grayscale’s bitcoin trust are key to the outlook of the cryptocurrency, Bloomberg reported Monday. According to the publication, the analysts believe: The odds of a bitcoin correction would....
Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX.com and trading platform Alameda Research. The firm’s analysts also predicted that the price of bitcoin could fall to $13,000.
JPMorgan on FTX and Bitcoin’s Price
JPMorgan Chase’s analysts, led by global market strategist Nikolaos Panigirtzoglou, provided their analysis of the FTX situation and a price prediction for bitcoin in a note Thursday.
The analysts explained that fewer....