JPMorgan Chase: $ 40.000 Penting untuk Bitcoin
BTC needs to return to $40,000 to keep the bullish momentum alive. Otherwise, subsequent serious price adjustments are possible. Strategists at JPMorgan Chase announced.
The $40,000 bar is the key to the future growth in the price of bitcoin. If the cryptocurrency cannot hold it, losses and outflow of investors will follow.
According to representatives of JPMorgan Chase, the demand for futures on bitcoin and the Grayscale Bitcoin Trust for $22.9 billion will determine future growth. Let's figure out why ...
After setting a record high of over $42,000, Bitcoin underwent a major correction in early 2021. The cryptocurrency lost almost $12,000 due to unclear reasons. Altcoins found themselves in a similar situation.
Currently, the Grayscale Bitcoin Trust has received a large influx of institutional funds aimed at stimulating the recovery of BTC. However, if Bitcoin does not go above 40 thousand dollars, traders will change their minds and the momentum signal will fade by the end of March.
Potential support will also come from Bitcoin ETFs, which have surpassed gold ETFs in popularity since fall of 2020. Many investors have withdrawn their funds from gold funds and invested in cryptocurrencies. This negatively affected the price of precious metals, but became an excellent support for cryptocurrencies.
According to analysts, the trend of injecting funds into bitcoin funds instead of gold will continue for a long time, and this will help to keep the upward trend of cryptocurrencies.