Bitcoin

If you’re still hoping for a new Bitcoin peak, JPMorgan has some bad news. Those expecting Bitcoin to reach new highs during this post-halving cycle might be disappointed.JOIN CRYPTOS HEADLINES<a href="https://t.me/CryptosHeadlines" rel="noopener noreferrer nofollow">TELEGRAM CHANNEL</a><img src="https://academy-public.coinmarketcap.com/optimized-uploads/fbbcec0e22084a6ba80e55106cc65ca3.svg&#43;xml" />A recent report by JPMorgan, a banking analyst, says that Bitcoin has already reached its highest value and trading volumes.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9bd2f1d2659a4b23bbfc4fbaae39c29b.png" /><h3 id="bitcoin-struggles-after-peaking-at-73-737">Bitcoin Struggles After Peaking at $73,737</h3>The leading cryptocurrency, Bitcoin, reached its current peak of $73,737 on March 14, following the successful launch of various Bitcoin exchange-traded funds (ETFs). However, Bitcoin failed to maintain its upward momentum. Multiple attempts to reclaim the $73,000 mark were unsuccessful for the bulls.Last week, Bitcoin’s price plunged below $54,000, marking the biggest correction of the current cycle at 27%. The cryptocurrency has been underperforming compared to the U.S. equities market due to several bearish factors, including Mt. Gox’s repayments and significant sales by the German government.JPMorgan also noted the poor performance of Bitcoin ETFs in June, which saw $662 million in outflows.<h3 id="optimistic-analysts-predict-future-bitcoin-surge">Optimistic Analysts Predict Future Bitcoin Surge</h3>Despite recent setbacks, some <a href="https://cryptosheadlines.com/bitcoin-targets-204k-in-next-bull-cycle-analyst/" rel="noopener noreferrer nofollow">analysts believe the bullish cycle</a> is far from over. Fundstrat’s Tom Lee recently reiterated his $150,000 price prediction, while commodity trader Peter Brandt is convinced that such a target is achievable for Bitcoin by 2025.There are signs the market might be recovering despite the bearish headwinds. For instance, <a href="https://cryptosheadlines.com/standard-chartered-spot-bitcoin-etfs-may-drive-100b-inflows-propel-btc-to-200k-by-2025/" rel="noopener noreferrer nofollow">Bitcoin spot ETFs recorded impressive inflows</a> of $295 million on July 8, indicating growing demand.<img src="https://academy-public.coinmarketcap.com/optimized-uploads/9bd2f1d2659a4b23bbfc4fbaae39c29b.png" /><img src="https://academy-public.coinmarketcap.com/optimized-uploads/c80d085ed2554d198e4562ed76269ce6.png" />Important: Please note that this article is only meant to provide information and should not be taken as legal, tax, investment, financial, or any other type of advice.

JPMorgan Issues Serious Warning for Bitcoin Supporters

Table of Contents

CryptosHeadlines.com

Alte articole publicate pe 9 iul. 2024

BlackRock tokenized treasury fund BUIDL surpasses $500 million

DOGE Price Prediction for July 9

Optimism Network Faces TVL Decline

Own crypto? You’re a psychopath, scientists say

Layer 2 networks boom: How Optimism, Base are leading the charge

Binance to Cease Trading of BOND, DOCK, MDX, POLS On July 22

Join our free newsletter for daily crypto updates!