Earn with Nexo
JPMorgan claims Bitcoin more attractive than gold post deleveraging
Compared to gold, Bitcoin is perceived as offering a higher reward for its adjusted risk level.
JPMorgan, a major US bank, claims Bitcoin has become more attractive than gold following a period of deleveraging, MarketWatch reported today.
Analyst Nikolaos Panigirtzoglou noted that a sharp liquidation in perpetual futures and a $128 million crypto theft from the decentralized-finance protocol Balancer contributed to the recent pullback.
Panigirtzoglou estimates Bitcoin could climb to $170,000 over the next 6–12 months on a volatility-adjusted basis.
Disclosure: This article was edited by Vivian Nguyen. For more information on how we create and review content, see our Editorial Policy.