Monday , October 3 2022

JP Morgan analyst Bitcoin & # 39; $ 1260 & # 39; warning



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Reuters reported that JP Morgan analysts can not take advantage of Blockchain for at least three to five years and that Bitcoin will fall below $ 1260.

According to Reuters, analysts from the world's largest investment bank believe that the real value of the Crypto money is still unproven and that these assets will only make sense in a dystopian scenario where investors lose faith only in gold, dollars and other large reserve assets, and global payment system.

The related report says:

Even in extreme scenarios such as recession or financial crises, there are more liquid and less sophisticated instruments for transactions, investments and hedging by crypto-coins.

JP Morgan also noted that over the last six months, corporate participation in the Crippto money market has fallen, with most of the market being individual investors and buyers. In the report, the company claims that the use of crypto-coins in payments will continue, adding that in 2018 there are no large retailers to accept crypt money.

Analysts suggest Bitcoin's price is likely to drop to nearly 2400, and if the current bear market continues, it could reach $ 1,260. At the time of launch, the largest crypt money lost about 1.7% compared to last week and found buyers at $ 3,595.

The investment bank predicts that Blockchain technology will not make real changes for banks for at least 3-5 years, while DLT has the potential to reduce global bank costs and digitize different complex processes.

In September 2017, Jamie Deimon, Chief Executive Officer of JP Morgan, called Bitcoin "JP Fraud" and spoke with praise.

News: CoinTelegraph

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