JP Morgan Chase

Perhaps unsurprisingly, the traditional finance world doesn’t appear nearly as bullish on Bitcoin as the crypto community. According to a poll from JP Morgan, only 5% of their clients envision the asset reaching $100 000 by the end of the year. That said, most expect it to recover from its current slump and grow at least 50% within 12 months. Wall Street’s Bitcoin Bets As reported by BNN Bloomberg, JP Morgan’s survey results show a healthy mix of bears and…

JP Morgan – America’s largest investment bank – said that Ethereum now beats Bitcoin as an investment option. Interestingly, this comes shortly after the bank released a report arguing Ethereum's overestimation in comparison to BTC. Though it presents plausible arguments, there are also some holes in the banking giant’s logic. Ethereum Over Bitcoin? JP Morgan’s Argument JP Morgan’s market strategist Nikolaos Panigirtzoglou offered this analysis in a recent report, according to Markets Insider. As he argued, rising interests could make…

Major multinational investment bank JPMorgan recently revealed its reasons for why Bitcoin is surging this week. Among these are its attractiveness to institutional investors as an inflation hedge that is superior to gold. JP Morgan’s Analysis on BTC Price Growth The investment bank gave their analysis of the crypto’s price in a note shared Thursday, as reported by Markets Insider. They list 3 main reasons Bitcoin broke through key resistance levels this week, reclaiming its trillion-dollar market cap. Inflation Hedging…

Multiple Wall Street industrial trading companies have recently made plans to boost their cryptocurrency trading activities. The financial startups may soon open new business ventures to acquire a lump sum of crypto assets to trade. The most prominent players in the United States equity market have shifted their focus to digital assets. Some of these companies include Jump Trading, Jane Street and GTS. Wall Street Eyes Cryptocurrency Trading Several renowned Wall Street companies command trading respect on a global sphere. Additionally, they take up…

As recently recorded, Asset Managers and financial institutions currently hold approximately 6% of the total supply of BTC. As analysts speculate, 21M BTC will circle the finance world by 2140. 18M are presently in circulation. On May 22, 2010, slightly over a year after bitcoin had been coded into existence, Florida man Lazslo Hanyecz officially became the first person to use the digital currency in a commercial transaction. Hanyecz paid for a couple of pizzas worth about $30, with 10,000…

Bitcoin (BTC) rapid rise in 2021 has been remarkable, with the leading coin hitting a new all-time high on Friday. According to the latest stats, Bitcoin is worth more than the two largest banks in America combined.  Bitcoin Market Cap Nears $900 billion. Bitcoin’s price has rebounded in the past few days after initially trading around the $42k mark on Monday. Buoyed by the news of institutional purchases of BTC, the price pumped to $48,000 on Thursday. A quiet push…