Bitcoin Assessment From JPMorgan Strategists

Strategists from the US investment bank JPMorgan have made an assessment about the course of the leading cryptocurrency Bitcoin.

JPMorgan strategists, who regularly make Bitcoin predictions that attract a lot of interest, made evaluations about the course of the leading cryptocurrency. Drawing attention to the fact that the 60 thousand dollar point is almost the level of "stop or continue the bullish trend", analysts claimed that the final moments of the BTC rally may have been experienced. Bitcoin, which took a sharp jump and climbed to $ 65,000 with the listing of Coinbase on the Nasdaq exchange the previous week, suffered its biggest loss in the night that connected Saturday to the market, dropping from $ 60,000 to $ 50,000. Analysts led by Panigirtzoglou, known as JPMorgan's chief strategist, stated that they observed a decline in momentum signals and stated the following in their report: “Over the past few days, futures markets have seen a drastic liquidation. This was a situation similar to the purges in February and mid-January and that of November. Although momentum signals are still high, it may decline for a few months due to reduced corporate firm purchases. We remember the comebacks after the declines in the past. It was the purchases of corporate companies that provided this. But now there are some doubts. If Bitcoin fails to break above $ 60K, momentum signals will collapse.” Bitcoin is being traded at $ 55,517 at the time of writing.