Coin Gabbar Token

<h2 id="header-0">The traditional and digital asset markets have the highest level of linkage.</h2>The markets can rise or fall in response to even the smallest statement or piece of data given by the government. Investment banking firm JPMorgan, however, recorded a sharp decline in net profit.JPMorgan decreases reserve fund.According to sources, JPMorgan&#39;s third quarter net profit fell by a startling 17% to $9.74 billion. It stated that $808 million would be set up for reserves. Given that the company was able to set aside $2.1 billion in reserves in the third quarter of 2021, this can be considered a significant decrease in profit.According to experts, there has been a jump in interest revenue that has been negatively impacted by the substantial loan loss provisions. However, after the release of the report, the price of JPMorgan&#39;s stock increased by about 4%. Investors are closely monitoring the US government&#39;s high interest rate, which is intended to reduce inflation.In addition, JPMorgan&#39;s investment banking revenue has fallen precipitously, falling by more than 43% to $1.7 billion. It has been described as a result of a combination of rising inflation and economic fears.Can it harm cryptocurrency markets?However, rising rates are seen as advantageous for banks since they may charge borrowers larger interest rates. JPMorgan apparently claimed before that bitcoins have no value.Investors should be concerned about the market&#39;s rising correlation with the traditional market. Soon after the release of the September US CPI data, stock indices including the Nasdaq and S&amp;P 500 experienced a decline. The cryptocurrency market experienced a decline of almost 3%, mirroring that of the larger markets.However, the crypto market on Friday morning had a significant comeback after the regular markets. The market capitalization of all cryptocurrencies increased by more than 3% to $930 billion.

Will Crypto Be Affected by JPMorgan's 17% Lower Profit?

Innholdsfortegnelse

Coingabbar

Andre artikler publisert på 22. okt. 2022

August 2022 Project Update

MMOCoin is now Listed on BabyDogeSwap

We are happy to announce! IDO is started! Let's move!

The Anatomy of a Hackathon Winner: Polydocs Takes on Smart Contract Rights

Platform Tech Update

How LP tokens can be integrated into a lending system

Bli med på vårt gratis nyhetsbrev for daglige kryptooppdateringer!