JPMorgan Says Cryptocurrency Markets Are ‘Looking Frothy’
Global investment bank JPMorgan says cryptocurrency markets are “looking frothy” as retail investors spill over from the stock market into cryptocurrencies and non-fungible tokens (NFTs). Crypto Markets Look Frothy, According to JPMorgan JPMorgan published a note Wednesday on the stock market and cryptocurrencies. It explains that retail investors bought stocks at a record pace over the summer with an estimated net flow into the U.S. stock market of $13 billion in August after reaching a record high of almost $16 billion in July. The JPMorgan analysts asserted that the....
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Altcoins have made big gains on the total market share of the cryptocurrency markets, but JPMorgan analysts have concerns. JPMorgan analysts have warned clients that cryptocurrency markets are looking frothy after the August trading boom saw spot market trading volumes once again top $1 trillion. In a note to clients reported by Markets Insider, the JPMorgan analysts suggested valuations in crypto markets, especially altcoins and NFTs, are getting too high. “The share of altcoins looks rather elevated by historical standards and in our opinion it is more likely to be a reflection of froth....
Global investment bank JPMorgan has published a report on the future outlook of crypto markets, including Ethereum’s upgrades, decentralized finance (defi), and non-fungible tokens (NFTs). The bank sees “the cryptocurrency markets as increasingly relevant to financial services,” its analyst described.
JPMorgan Outlines Future Outlook for Crypto Markets
JPMorgan analyst Kenneth Worthington published a report on the 2022 outlook for crypto markets Friday. The analyst wrote:
The applications from crypto have only just begun. Web3.0, greater use of NFTs....
Investment bank strategists say that BTC could climb as high as $73,000 if markets remain frothy. American multinational investment bank JPMorgan has put a price on Bitcoin and it is a lot less than the asset currently trades for.In a report to investors as part of the bank’s inaugural outlook focused on alternative investments, strategists stated that alternative assets which include cryptocurrencies “should continue to outperform into 2022.”They also asserted that Bitcoin’s “fair value” is around $35,000 based on the firm’s price model, which roughly 45% lower than its current trading....
Earlier this week, investment bank JPMorgan released investor notes suggesting that the cryptocurrency markets have become bloated again, with market conditions appearing more bubble-like than anticipated. “Cryptocurrency markets [are] looking frothy again,” the investment note read. The note, which was released last Wednesday, suggested that retail investors’ appetite for digital assets skyrocketed alongside traditional equities. […]
Investment bank JPMorgan has published a report explaining why ether is outperforming bitcoin. Citing several key reasons, the firm concluded that “there is evidence of more resilient liquidity, less reliance on derivatives markets to transfer and warehouse risk, and more durable underlying demand base – for now at least.” JPMorgan Says Ether Outperforms Bitcoin JPMorgan published a report on Tuesday entitled “Why is ETH outperforming?” The analysts with the firm’s Fixed Income Strategy for the U.S. wrote: In recent days, one of the more interesting....