JPMorgan Sees Institutional Opportunity Due To Falling Bitcoin Volatility

הועלה מחדש על ידי אפלטון

עוקב: 0

A drop in volatility in ביטקוין (BTC) can have a good effect on attracting large players. At least analysts of the American bank JPMorgan think so, כותב בלומברג.

According to experts, the recent decrease in cryptocurrency volatility creates conditions for the arrival of institutional investors. JPMorgan said:

We believe that a potential normalization of Bitcoin volatility is likely to help revive institutional interest in the future.

Moreover, the price of BTC could rise to $130,000 if retail investment in cryptocurrency equals gold. However, when exactly such a jump in price could occur, analysts did not specify.

According to the calculations of the American bank, the שלושה חודשים volatility of Bitcoin fell to 86%. The חצי שנה indicator will stabilize at around 73%.

מקור: bloomberg.com

As volatility falls, more major players will take an interest in cryptocurrencies, analysts say. The bank’s comments come after Bitcoin briefly hit $60,000 on April 2 in its slow grind back to כל הזמן גבוה.

According to data from TradingView, the BTC/USD pair rose to a local peak of $60,187 on Bitfinex exchange.

The ensuing decline brought Bitcoin closer to $59,000 and at the time of this writing, it was trading at $59,497.

1-hour chart (Bitfinex) for the BTC/USD pair. Source: Tradingview

The effort to stay high means that Bitcoin has recovered from the beginning of the week and continues to trade in a safe corridor.

Popular trader Crypto Ed wrote in a tweet on Friday:

In my YT video on 30-04 I mentioned #BTC target $73k and $ ETH $2300
From what I see now, ETH is on track. BTC not convinced yet it will reach that target in this cycle but I do think we’ll see a strong push above 60k (soonish) pic.twitter.com/OTXWQUpNPC

- Crypto_Ed_NL (@Crypto_Ed_NL) אפריל 2, 2021