A new assessment came after the $ 50,000 threshold was exceeded by JP Morgan analysts, whose comments on Bitcoin have attracted attention recently. According to Nikolaos Panigirtzoglou; In order for the bitcoin price to remain at its current levels, volatility must decrease, and otherwise, the price will hardly hold at $ 50,000.
According to JP Morgan, the money entering Bitcoin from corporate companies, whose market value has increased by $ 700 billion since September, is $ 11 billion. So why is there such a big difference? According to analysts, there are 2 reasons for this. First, investments from people who actually own money, and secondly, retail investors looking for a way to earn a lot speculatively.
JP Morgan analysts use the following statements on the subject: “The speculative movements of small investors mostly cause the movements since January. Therefore, when the money flow from this retail investor stops, the real investor should step in and continue the system. Retail entry in the US has increased significantly, especially since January, and is very strong. There is almost no doubt that this retail entry impacts not only on stocks but also on Bitcoin ” Strategists also compared the volatility of gold and Bitcoin. Bitcoin and its largest fund, Grayscale Bitcoin Trust (GBTC), on average, have 6.2 times greater risk than GLD, its largest ETF in terms of gold and assets under its management. they stated that it was consuming the capital. As it is known, venture capital represents funds with high returns as well as high risk.
Analysts also spoke about Ethereum (ETH) futures, recently launched by the Chicago Mercantile Exchange CME, stating that the lack of interest in ETH futures is the same as the early CME Bitcoin futures situation experienced.