JPMorgan Chase and Deutsche Bank have weighed in on potential price movements for bitcoin following the halving. “We continue to expect prices to stay high,” Deutsche Bank analysts said. JPMorgan analysts, however, stated that they “see downside for the bitcoin price post halving for several reasons.” JPMorgan and Deutsche Bank on Bitcoin Post-Halving JPMorgan Chase […]
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JPMorgan Warns of Downside Risk in Crypto Markets
JPMorgan has warned of a downside risk in crypto markets, citing subdued crypto venture capital flows. The global investment bank’s analysts also remain cautious about the U.S. Securities and Exchange Commission (SEC) greenlighting spot ethereum exchange-traded funds (ETFs) in May. Crypto Market’s Downside Risk Warning Global investment banking giant JPMorgan published a report on Thursday, […]
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Peter Schiff Warns High Inflation Returning — Accuses JPMorgan CEO Jamie Dimon of Sugarcoating the Problem
Economist and gold bug Peter Schiff has warned that high inflation will return with a vengeance and significant Fed rate hikes will be necessary. He also criticized JPMorgan CEO Jamie Dimon for downplaying the severity of the U.S. economic situation. However, he conceded that Dimon’s perspective is “a lot closer to being right than most […]
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JPMorgan Anticipates SEC Approving Spot Ethereum ETFs After Litigation Process
Global investment bank JPMorgan anticipates that the U.S. Securities and Exchange Commission (SEC) will eventually approve spot ether exchange-traded funds (ETFs). However, the firm pegs the chance of approval in May at 50%, foreseeing a potential litigation process if an ether ETF application is rejected at that time. JPMorgan on Potential SEC Approval of Spot […]
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JPMorgan: Bitcoin Still Overbought Despite Price Drop
Global investment bank JPMorgan has cautioned that bitcoin is still overbought despite the crypto’s recent price decline. JPMorgan’s analysts expect continued selling pressure on bitcoin as the halving approaches, “particularly against a positioning backdrop that still looks overbought despite the past week’s correction.” JPMorgan: ‘Bitcoin Remains in Overbought Territory’ JPMorgan’s analysts, led by global strategist […]
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Bitcoin Troubles Far From Over As More Carnage Looms, JPMorgan Analysts
Despite optimism about Bitcoin’s future trajectory heading into the Bitcoin Halving, analysts at JPMorgan have raised concerns that things may not go according to everyone’s expectations. They believe that a storm still lies ahead for the flagship crypto token before any massive move to the upside.
Further Bitcoin Pullbacks Are To Be Expected
According to a Bloomberg report, JPMorgan strategists have warned that Bitcoin could still experience further pullbacks following its recent decline. They alluded to the recent net outflows recorded by the Spot Bitcoin ETFs, which underscored the current bearish sentiment in the Bitcoin ecosystem.
These strategists, led by Nikolaos Nikolaos Panigirtzoglou, also highlighted the sustained open interest in CME Bitcoin futures as another bearish signal for Bitcoin’s price. They further argue that Bitcoin “still looks overbought” and expect further price dips leading up to the Halving event in mid-April.
Meanwhile, these JPMorgan analysts emphasized the decline in net inflows into Spot ETFs, noting that this proves that a sustained one-way net inflow is not possible. Therefore, they expect investors in these funds to keep taking profits heading into the Bitcoin Halving. This wave of profit-taking is also more likely, considering that Bitcoin “still looks overbought despite the past week’s correction.” they claimed.
This recent research note by JPMorgan further reaffirms their bearish sentiment towards Bitcoin’s price despite the flagship crypto exceeding expectations. Last month, the bank predicted that Bitcoin could drop to as low as ,000 after April as “Bitcoin-halving-induced euphoria subsides.”
Naeem Aslam, chief investment officer at Zaye Capital Markets, also echoed JPMoragn’s sentiments when he suggested that Bitcoin’s recent rally didn’t show enough strength. Aslam believes Bitcoin could fall below ,000 if the Halving event “fails to really keep the momentum going.”
What Could Happen After The Halving Event
Crypto trader and analyst Rekt Capital recently provided insights into what could happen after the Havling event while elaborating on the four phases of Bitcoin Halving. According to him, there is usually a re-accumulation period after the Halving, which could last for up to five months.
During this period, he noted that many investors get “shaken out in this stage due to boredom, impatience, and disappointment with lack of major results in their BTC investment in the immediate aftermath of the Halving.” Rekt Capital added that this time could be different since it is the first time this re-accumulation could develop around the new all-time high (ATH) area.
Therefore, he believes this “Re-Accumulation Range may simply take the shape of a regular sideways range and may not last very long before additional uptrend continuation.”
JPMorgan CEO Jamie Dimon Says He ‘Won’t Personally Ever’ Buy Bitcoin
The chief executive of JPMorgan Chase, Jamie Dimon, has doubled down on his anti-crypto stance, declaring that he will never personally buy bitcoin. His investment bank, however, is an authorized participant for Blackrock’s spot bitcoin exchange-traded fund (ETF). Despite his personal reservations about bitcoin, Dimon acknowledged his clients’ interest and championed their freedom to invest. […]
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Bitcoin Mega Whale Resurfaces, JPMorgan Expects BTC Price to Drop, Bitcoin Cash Soars 40%, and More — Week in Review
A significant bitcoin “mega whale” moved 3,000 vintage bitcoins from 2010 as BTC peaked at ,210. JPMorgan predicted a post-halving drop in bitcoin’s price to ,000, citing current euphoria levels. Meanwhile, bitcoin cash experienced a 40% surge in anticipation of its halving event and a major 2024 upgrade. Additionally, rumors circulated about a Qatari billionaire’s […]
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JPMorgan Says ‘Unrealistic’ to Expect Bitcoin to Match Gold Within Investors’ Portfolios
JPMorgan says the argument that bitcoin’s market cap would rise to .3 trillion if it matched gold in portfolios, implying more than doubling in price, overlooks risk. “It would be unrealistic to expect bitcoin to match gold within investors’ portfolios in notional amounts,” a JPMorgan strategist stressed, adding: “Most investors take risk and volatility into […]
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Satoshi’s Growing Fortune, JPMorgan Says Halving Priced in, Peter Brandt Raises BTC Price Target, and More — Week in Review
Bitcoin’s valuation surged past the trillion mark, significantly increasing the net worth of its elusive creator, Satoshi Nakamoto, by nearly billion in two months. JPMorgan Chase analysts have identified the Bitcoin halving event and an upcoming major Ethereum network upgrade as key drivers of cryptocurrency prices. Veteran trader Peter Brandt has revised his […]
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