CandleFocus JPMorgan Draws a Bullish Scenario for the Cryptocurrency Market: Here’s What They Expect
2024-10-16
Author: Content Editor
JPMorgan analysts have shifted to a bullish stance on the cryptocurrency market for 2025, citing several factors. They highlight the rise of "depreciation trading" as investors turn to alternative assets like gold and Bitcoin as a hedge against economic instability. They suggest that a possible Trump victory in the 2024 elections could be a regulatory boost for Bitcoin. The report also mentions recent moves by traditional financial institutions to recommend Bitcoin ETFs to their clients, the completion of major liquidations, and the expected cash payments from the FTX bankruptcy, all of which could provide support for the market. However, the analysts also warn about pending stablecoin legislation in the US, which could impact the market and specifically mentions potential challenges for Tether.
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