BTC forecast | JPM analysts foresee a stabilizing crypto market
After the last price target was reached:
Now per a Bloomberg report, analysts from JPMorgan Chase, including Nikolaos Panigirtzoglou, have recently published a research note indicating that the cryptocurrency market is poised to find stability in the coming time.
The report attributes this prediction to a reduction in the open interest of CME Bitcoin futures contracts, a typical sign of a diminishing price momentum.
The analysts are of the opinion that the recent downturn in the cryptocurrency market, marked by a nearly 12% decrease in Bitcoin's price over the last fortnight, is approaching its conclusion.
In the past, when banks were pessimistic about crypto, it was a good time to buy. When they are optimistic, they aim to trap retail investors at higher prices.
I don't foresee a stabilization in the price of Bitcoin until it reaches a stronger support, such as $23,900.
Looking forward to read your opinion about it.
Now per a Bloomberg report, analysts from JPMorgan Chase, including Nikolaos Panigirtzoglou, have recently published a research note indicating that the cryptocurrency market is poised to find stability in the coming time.
The report attributes this prediction to a reduction in the open interest of CME Bitcoin futures contracts, a typical sign of a diminishing price momentum.
The analysts are of the opinion that the recent downturn in the cryptocurrency market, marked by a nearly 12% decrease in Bitcoin's price over the last fortnight, is approaching its conclusion.
In the past, when banks were pessimistic about crypto, it was a good time to buy. When they are optimistic, they aim to trap retail investors at higher prices.
I don't foresee a stabilization in the price of Bitcoin until it reaches a stronger support, such as $23,900.
Looking forward to read your opinion about it.
BUYSELL indicators tradingindicators.store/
TRADING COURSE bit.ly/tradex
Private Signals patreon.com/PremiumOptionsSignals
RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
TRADING COURSE bit.ly/tradex
Private Signals patreon.com/PremiumOptionsSignals
RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.