Donald Trump

Bitcoin

CRYPTO

<p>Bitcoin is undergoing a correction after briefly breaking the $68,000 mark. JP Morgan analysts, however, predict a persistent downward trend. This forecast raises questions about the trajectory of the crypto asset’s price.</p>
<h2 id="h-jp-morgan-and-the-recent-movements-of-bitcoin">JP Morgan and the recent movements of Bitcoin</h2>
<p>On July 21st, Bitcoin briefly increased, reaching $68,000 before dropping back to around $67,000. This rise <a href="https://www.cointribune.com/en/joe-biden-throws-in-the-towel-bitcoin-surpasses-68000/" target="_blank" rel="noopener noreferrer nofollow">followed the announcement of Joe Biden’s withdrawal</a> from the Democratic primary race. Despite the enthusiasm of investors hoping to see BTC exceed $70,000, JP Morgan analysts expressed reservations.</p>
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<p>According to them, the price of the crypto asset is too high compared to its production cost, estimated at around $43,000. They suggest its value adjusted for volatility should be around $53,000. This analysis indicates a possible return to a lower value, limiting long-term gains. Currently, BTC trades below $66,000, showing a downward trend that seems to confirm the analysts’ forecasts.</p>
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     <p lang="en" dir="ltr">JPMORGAN ANALYSTS EXPECT TEMPORARY CRYPTO REBOUND<br><br>According to JPMorgan analysts, any imminent rise in crypto prices will be short-lived, driven by strategic liquidations.<br><br>They noted bitcoin's high current price relative to its production cost and compared it to gold's… <a href="https://t.co/khK1JUUTP3" rel="noopener noreferrer nofollow">pic.twitter.com/khK1JUUTP3</a></p>— Crypto Town Hall (@Crypto_TownHall) <a href="https://twitter.com/Crypto_TownHall/status/1815170551356522740?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">July 21, 2024</a>
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<h2 id="h-peter-brandt-s-vision-and-trends-to-watch">Peter Brandt’s vision and trends to watch</h2>
<p>Other experts, like trader Peter Brandt, share a divergent view. Brandt acknowledges a short-term bearish trend but sees long-term growth potential. This optimism is supported by the growing interest in Bitcoin ETFs, which attracted more than a billion dollars in capital last week, according to Bloomberg. This trend shows a renewed interest from institutional investors, a positive sign for the future of Bitcoin.</p>
<p>Moreover, the potential re-election of Donald Trump in November 2024 is seen by some as a possible catalyst for crypto. This is due to his supposedly favorable stance towards the sector. Additionally, rumors are circulating about a possible announcement at the Bitcoin conference in Nashville, where Trump could declare Bitcoin as a strategic reserve asset.</p>
<p>In summary, the <a href="https://www.cointribune.com/en/cryptocurrency-jpmorgan-announces-an-imminent-market-comeback/" target="_blank" rel="noopener noreferrer nofollow">crypto market</a> is currently marked by great uncertainty, with varied perspectives depending on the analysts. While JP Morgan envisions a continued short-term decline, other experts see long-term growth potential. Investors must therefore stay alert to market developments and political events, keeping in mind the inherent risks of this volatile sector.</p>

Bitcoin in Decline: What If JP Morgan Analysts Were Correct?

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