JPMorgan claims Bitcoin more attractive than gold post deleveraging
Key Takeaways
- JPMorgan analysts view Bitcoin as more attractive than gold after recent deleveraging in the market.
- The recent price collapse to below $100,000 was viewed as a technical market event driven by deleveraging and security scares.
JPMorgan, a major US bank, claims Bitcoin has become more attractive than gold following a period of deleveraging, MarketWatch reported today.
Analyst Nikolaos Panigirtzoglou noted that a sharp liquidation in perpetual futures and a $128 million crypto theft from the decentralized-finance protocol Balancer contributed to the recent pullback.
Panigirtzoglou estimates Bitcoin could climb to $170,000 over the next 6–12 months on a volatility-adjusted basis.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
BlackRock Clients Offload $127M in Bitcoin Holdings
Litecoin Price Rebounds, Closing in on $100 as Network Activity Rises

Zcash Explodes 85% in a Week — Analysts Eye $1,000 Target Next

Cardano Faces Whale Sell-Off as Midnight Network Activity Skyrockets
