During the latest wave of crypto adoptions, specifically, Bitcoin, a lot of financial institutions came around the idea and started to invest in it. JPMorgan was one of those esteemed few to adopt Bitcoin for good and offer their services in it, such as Bitcoin trading, buying, selling, and holding for the clients. But these past few weeks have been a literal mess for the crypto market as it tumbled through a solid crash, and the investors and early adopters of the cryptocurrency are definitely questioning the moment they pitched in for its adoption.
But that is now water over the bridge, and out of those early adopters of cryptocurrency, JPMorgan is specifically ringing some bells, something about another Bitcoin crash.
Bitcoin might have Lost its Adoptive Edge as Volatility Rises, and Crashes seem Inbound
Earlier, an analyst from JP Morgan predicted that Bitcoin could go as high as 146k in the upcoming year, and now a new prediction is in according to which an imminent crash is inbound. According to the recent market correction, the fair value of the top digital currency, according to JPMorgan, is between $24k-$36k.
The increased value of volatility is based on the loss of interest from the institutions over such an intensive market-level crash. The recent crash was able to destroy a great chunk of Bitcoin’s reputation, and thus the investors and the institutions are kinds of phasing out, and the crypto market doesn’t pose as a great or bursting investment opportunity anymore.
According to the analyst, it just doesn’t sound like a promising vessel that every investor wants to jump on because of the increasing volatility relative to gold. It fairly seems that the world is again retorting back to the old investment methods and would just want to steer clear of the cryptocurrencies and the market.
But that too is only one side of the coin; people and investment companies are still very eager to board the crypto bus and especially Bitcoin because of the fact that it is still a new concept and it could eventually end up being the mainstream financial system in place for the whole world. This alone is motivation enough for people to keep ongoing.