JPMorgan Raises Alarm Over Bitcoin (BTC): A Critical Crypto Update
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- JPMorgan maintains a cautious stance on cryptocurrencies, citing lack of bullish catalysts and elevated positioning as contributing factors.
- The bank had previously predicted that Bitcoin’s halving was priced in, and that the price could crash to as low as $42,000 after the event.
- JPMorgan CEO Jamie Dimon continues to criticize Bitcoin, calling it a “fraud” and a “Ponzi scheme.”
JPMorgan maintains a cautious stance on cryptocurrencies, citing lack of bullish catalysts and other factors. The bank’s CEO continues his criticism of Bitcoin.
JPMorgan’s cautious stance on cryptocurrencies
JPMorgan, a leading US bank, has maintained a cautious stance on cryptocurrencies, according to its latest report. The bank’s analysts cite the lack of bullish catalysts, elevated positioning, underwhelming venture capital funding, and current production costs as the main bearish catalysts contributing to the ongoing selling pressure in the cryptocurrency market.
Previous predictions and current market conditions
Last month, JPMorgan predicted that the Bitcoin halving was pr... Read the full article for FREE at COINOTAG!
