{"id":127662,"date":"2021-06-04T19:05:42","date_gmt":"2021-06-04T19:05:42","guid":{"rendered":"https:\/\/precoinnews.com\/?p=127662"},"modified":"2021-06-04T19:05:42","modified_gmt":"2021-06-04T19:05:42","slug":"jpmorgan-doesnt-think-2021-will-feature-much-improvement-for-btc","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/jpmorgan-doesnt-think-2021-will-feature-much-improvement-for-btc\/","title":{"rendered":"JPMorgan Doesn't Think 2021 Will Feature Much Improvement for BTC"},"content":{"rendered":"

A new report by financial giant JPMorgan says that the price of bitcoin \u2013 which has been on a serious downfall over the past few weeks \u2013 could drop a bit further before finally stabilizing.<\/p>\n

JPMorgan Offers Fresh Helping of Gloom and Doom for BTC<\/h2>\n

The currency has been experiencing its worst period since first coming to fruition approximately 12 years ago. The asset ultimately rose to about $64,000 in mid-April, the highest point it had ever reached, though at press time, the world\u2019s number one digital currency by market cap has fallen by close to $30,000 per unit. This is worse than anything experienced by bitcoin in 2014 and 2018, which are two years that traders remember all too well for the asset\u2019s lowly numbers.<\/p>\n

One of the reasons JPMorgan seems to think bitcoin could fall further is because institutions have taken a break from buying the asset. So long as the currency continues to travel south, largescale investors are looking to avoid it like the plague. The document says:<\/p>\n

\n

There is little doubt that the boom-and-bust dynamics of the past weeks represent a setback to the institutional adoption of crypto markets, particularly bitcoin and Ethereum. We note that the mere rise in volatility, especially relative to gold, is an impediment to further institutional adoption as it reduces the attractiveness of digital gold vs. traditional gold in institutional portfolios.<\/p>\n<\/blockquote>\n

Per the report, JPMorgan states that volatility is likely to continue throughout 2021 and things could only marginally improve before the year is out. The document reads:<\/p>\n

\n

It now seems unlikely that we see this volatility ratio returning to the x2 levels of last summer. The best we can hope for over the medium term is for this volatility ratio to partially revert from around x6 currently to around x4 by year end.<\/p>\n<\/blockquote>\n

For some traders, the bitcoin price drop is a good thing and represents a stronger buying option. One such person suggesting this is Robert Kiyosaki, the author of the bestselling book \u201cRich Dad, Poor Dad.\u201d Recently, the money mogul took to Twitter to explain that the currency could wind up falling into the high $20,000 range, and that he would not hesitate to purchase more of the asset if it did.<\/p>\n

He explained:<\/p>\n

\n

Bitcoin is collapsing. This is great news. When the price hits $27,000, I can start shopping again. Much will depend on the global macro environment. Remember that the problem is not gold, silver, or bitcoin. The problem is the incompetence in government, the Fed, and Wall Street. Remember that gold cost $300 in the year 2000.<\/p>\n<\/blockquote>\n

Don’t Spend What You Can’t Afford to Lose<\/h2>\n

Still, others are warning traders to play it safe for the time being. Nate Nieri \u2013 a CFP with Modern Money Management in San Diego, CA \u2013 said the following of bitcoin:<\/p>\n

\n

You have a high chance of losing it all, but a small chance of winning it big.<\/p>\n<\/blockquote>\n

Source: Read Full Article<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

A new report by financial giant JPMorgan<\/p>\n","protected":false},"author":3,"featured_media":127661,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"yoast_head":"\nJPMorgan Doesn't Think 2021 Will Feature Much Improvement for BTC - Pre Coin News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/precoinnews.com\/crypto\/jpmorgan-doesnt-think-2021-will-feature-much-improvement-for-btc\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Doesn't Think 2021 Will Feature Much Improvement for BTC - Pre Coin News\" \/>\n<meta property=\"og:description\" content=\"A new report by financial giant JPMorgan\" \/>\n<meta property=\"og:url\" content=\"https:\/\/precoinnews.com\/crypto\/jpmorgan-doesnt-think-2021-will-feature-much-improvement-for-btc\/\" \/>\n<meta property=\"og:site_name\" content=\"Pre Coin News\" \/>\n<meta property=\"article:published_time\" content=\"2021-06-04T19:05:42+00:00\" \/>\n<meta name=\"author\" content=\"mediabest\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:image\" content=\"https:\/\/precoinnews.com\/wp-content\/uploads\/2021\/06\/JPMorgan-Doesn039t-Think-2021-Will-Feature-Much-Improvement-for-BTC.jpg\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"mediabest\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/precoinnews.com\/crypto\/jpmorgan-doesnt-think-2021-will-feature-much-improvement-for-btc\/\",\"url\":\"https:\/\/precoinnews.com\/crypto\/jpmorgan-doesnt-think-2021-will-feature-much-improvement-for-btc\/\",\"name\":\"JPMorgan Doesn't Think 2021 Will Feature Much Improvement for BTC - 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