HomeBitcoinJPMorgan says Bitcoin price could be risky.

JPMorgan says Bitcoin price could be risky.


JPMorgan says Bitcoin (BTC) may go down more. This notice is given after the price of Bitcoin went down and then went back up.

Today, a group of analysts led by Nikolaos Panigirtzoglou published a note saying that Bitcoin is still in “overbought territory. ” They reached this conclusion by looking at two important measures: JPMorgan’s futures position proxies and the Bitcoin futures price premium over the spot price. Both signs indicate that Bitcoin is still very popular and there has only been a small decrease in the number of people holding it so far.

The market thinks Bitcoin’s price will go up a lot by the end of the year. This hope was driven by the belief that people would keep wanting Bitcoin and because there would be less Bitcoin available after the halving event.

“Analysts said that as we get closer to the halving event, it is likely that people will keep selling their investments to make a profit. This is especially true because there are still a lot of people who have invested too much, even after the dip in the market last week. ”

The JPMorgan analysts said that the price of Bitcoin would go down to about $42,000 after the halving.

This is not a suggestion for how to invest money.


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