JP Morgan: Crypto Value Unproven, Bitcoin (BTC) Could Fall as Low as $1,260 in Near Future
JP Morgan has doubled down on their criticism of Bitcoin (BTC) and Crypto in general in a recent report analyzing the nascent markets. Within this report, analysts at the financial institution made multiple claims regarding the markets, notably saying that Bitcoin may only be a good hedge in a “dystopian scenario.” This bearish report does not come as a surprise to the crypto industry as a whole and is likely the result of a trickle-down effect of anti-cryptocurrency rhetoric stemming from the bank’s top-executive – Jamie Dimon – who is an outspoken critic of Bitcoin.
