Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

JPMorgan analysts believe that Bitcoin may continue to fall

Bitcoin: JPMorgan analysts believe that Bitcoin may continue to fall

Financial analysts at JPMorgan Chase have published new forecasts for the value of major digital currencies. Despite the recent price correction, bitcoin seems to remain in the overbought zone, The Block reported, citing industry experts.

The asset's price fell sharply by more than $12,000 during the week, after peaking at 73,650, showing a noticeable decline. The value of the first cryptocurrency fell to $61,000.

Despite the apparent decline, the assets are still in the overvalued zone, as indicated in the bank's publications. Analysts predict that Bitcoin's market capitalization could fall even further.

This assertion is supported by 2 key indicators: the proxy of JPMorgan's futures positions and the premium of bitcoin futures to the spot value of the asset.

"Both indicators show that bitcoin remains in overbought territory despite the recent sharp correction",emphasized the expert.

The company emphasizes the general optimism of the market due to the significant inflow of funds into spot #bitcoin-ETFs. However, recent data on the sector shows a decline in net inflows and the lack of sustainable financial support for crypto-ETFs.

In addition, as the #halving event approaches, representatives of the financial giant expect more profit-taking activity. Earlier, JPMorgan envisioned a potential collapse in bitcoin prices to $42,000 after the halving.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Press Releases: Announces Lead Asia Demo Day to Empower Innovative Blockchain Projects, the world's leading crypto exchange, is excited to announce the Lead Asia Demo Day in Seoul, a strategic initiative aimed at propelling the future of blockchain technology..
Regulation: Binance, following MICA, will introduce restrictions on a number of stablecoins for European traders
Cryptocurrency trading platform Binance has announced that it intends to restrict access to “unauthorized stablecoins” to customers in the European Economic Area (EEA) from June 30, 2024.
Press Releases: ChainGPT Pad launches $COOKIE to introduce MarketingFi - a transparent, decentralized, and user-centric approach to marketing
$COOKIE, powered by Cookie DAO, is a token that enters the Cookie3 three-platform stack, creating a complete Cookie MarketingFi ecosystem. As the “Google Analytics” of Web3, Cookie3 helps..
Press Releases: Blockchain Life 2024 to Take Place in Dubai at the Peak of the Bull Run
The legendary Blockchain Life 2024 will return for its 13th edition on October 22-23. As Dubai gains a reputation as a global crypto hub, the forum is set to be the central event of this..
Make crypto bots for trading