Institutions have no appetite for Bitcoin at this price level: JPMorgan
JPMorgan does not expect a bull run for Bitcoin over the medium term based on the BTC-to-gold volatility ratio. As Bitcoin (BTC) price failed to hold its breath above the $35,000 yesterday, JPMorgan expects an overall bearish movement below the critical price level based on the BTC-to-gold volatility ratio. In a note sent to investors on Wednesday, JPMorgan detailed its reasoning to see the fair value of Bitcoin between $23,000–$35,000 over the medium term. The banking giant previously pictured a $140,000 roadmap if the biggest cryptocurrency matches gold’s allocation and volatility....
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Global investment bank JPMorgan has doubled down on its bitcoin price prediction of $146K. The bank’s analyst explained that the price of the cryptocurrency could reach that level if its volatility subsides and institutional investors start investing in bitcoin more than gold in their portfolios.
JPMorgan Renews $146K Bitcoin Price Prediction
JPMorgan released an inaugural report of its new publication last week focusing on the outlook for alternative investments, including digital assets. A new report is expected to be released every two to three months.
The....
Advisers at the banking giant are reportedly only allowed to execute crypto trades at the direct request of a client rather than recommending the products themselves. Major U.S. investment bank JPMorgan Chase is reportedly allowing advisers to execute crypto trades for more of its clients.According to a Thursday report from Business Insider, retail wealth clients at JPMorgan now have access to cryptocurrency funds. A person directly familiar with the bank’s move to the digital space said all JPMorgan clients seeking investment advice — including those managed by financial advisers, retail....
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Institutions need to keep buying to avoid a price drop, JPMorgan analysts say, but the outlook is rosy and will come at the expense of gold. Institutional investors may be all that’s pushing up the price of Bitcoin (BTC), a new report from JPMorgan Chase claims.In comments on Dec. 18 quoted by Bloomberg, strategists led by Nikolaos Panigirtzoglou added to recent forecasts about the role of institutions in Bitcoin’s future.JPMorgan: Bitcoin "overbought"According to JPMorgan, the largescale inflows seen this month must continue to avoid a price correction. As Cointelegraph reported, theories....
According to JPMorgan this week’s rally has been driven by institutional investors hedging against inflation with Bitcoin. Bitcoin (BTC) has led a 35% rally this week by soaring far above the $50,000 resistance level and restoring a $1 trillion market capitalization to the asset. According to a note shared by JPMorgan with clients on Thursday, the recent increase in price for BTC was predominantly attributed to institutional investors looking for a hedge to inflation. "The re-emergence of inflation concerns among investors has renewed interest in the usage of Bitcoin as an inflation....