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.
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BUYSELL indicators tradingindicators.store/
TRADING COURSE bit.ly/tradex
RESULTS bit.ly/topgx
1%/DAY: bit.ly/3F56VTW
BYBIT partner.bybit.com/b/37880
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