The post JPMorgan Analysts Evaluated the Latest Rise in Bitcoin! He drew attention to two developments! appeared on BitcoinEthereumNews.com.

JPMorgan analysts expressed doubts about the sustainability of the recent crypto market rally, stating that the crypto rally seems overdone. Analysts have identified two key factors that have caused the crypto to rise over the past month. JPMorgan Attributes Crypto Rising to Two Factors The first factor is the expectation of a spot bitcoin ETF approval in the US that could bring new money into crypto markets. However, analysts are skeptical about this factor. They believe that instead of new capital entering the crypto industry to be invested in newly approved ETFs, existing capital will shift from existing Bitcoin products such as Grayscale Bitcoin Foundation, Bitcoin futures ETFs, and publicly traded Bitcoin mining companies into newly approved spot Bitcoin ETFs. JPMorgan analysts also reiterated that spot bitcoin ETFs are already available in Canada and Europe and have received little interest from investors since their launch, making them skeptical that new capital will enter the newly approved spot bitcoin ETFs in the US. The second main factor that triggered the recent crypto rally is the SEC’s defeat in the Ripple and Grayscale cases. But despite these apparent losses, it is unclear whether crypto regulations will ease in the future, according to JPMorgan analysts. Analysts believe it is far from clear that regulatory tightening in the crypto industry will significantly lessen going forward, given how unregulated this sector is. US crypto industry regulations are still pending and analysts do not believe US lawmakers will change their stance due to the above two legal cases, especially as the midterm elections approach *This is not investment advice. Follow our Telegram and Twitter account now for exclusive news, analytics and on-chain data! Source: https://en.bitcoinsistemi.com/jpmorgan-analysts-evaluated-the-latest-rise-in-bitcoin-he-drew-attention-to-two-developments/

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Filed under: News - @ November 10, 2023 8:22 am