Wall Street Analyst: Bitcoin (BTC) Showing Bubble-Like Properties

January 26, 2019

 

Hot on the heels of a Reuters report divulging J.P. Morgan & Chase’s dissatisfaction with the Bitcoin industry, CNBC has revealed that the Wall Street giant’s anti-crypto sentiment runs much deeper than previous reports would indicate. Jan Loeys, a managing director and analyst at J.P. Morgan, claimed that his firm has “long been skeptical” of the inherent value of cryptocurrencies in nearly all environments, save for “dystopian” societies rife with distrust for centralized financial intermediaries, like the U.S. Federal Reserve or Wall Street institutions. The firm’s researchers went on to judge cryptocurrencies as “deficient,” citing two main pillars of reasoning. The first pertained to J.P. Morgan’s inability to extrapolate risk-return profiles for emerging assets displaying “bubble-like properties,” like Bitcoin today and technology stocks in the late 90s and at the turn of the millennia. Bitcoin’s non-correlated nature with stocks, especially in struggling legacy market conditions, was the financial organization’s second point of rationale. J.P. Morgan even wrote that cryptocurrencies struggled to outperform equities in periods like the summer of 2015 & February 2018, due to this asset class’ “own overvaluation.”

Read more,,,.

Share on Facebook
Share on Twitter
Please reload

Featured Posts

#Binance Adds #BTT/PAX, BTT/TUSD and BTT/USDC Trading Pairs

February 14, 2019

1/3
Please reload

Recent Posts
Please reload

Beginner's Bitcoin Buying Guide

Learn how to buy

bitcoin with this free step by step guide for  beginners.

Click here to read

Please reload

Archive

© 2018 by TheCryptoCoinCenter.com  - email  us: TheCryptoCoinCenter@gmail.com

Terms of Use and Privacy Policy Disclaimer: Most of the articles, ratings, and reviews are posted because we are compensated in some way.

Follow Us
  • Facebook Basic Square
  • Twitter Basic Square