JPMorgan claims Bitcoin more attractive than gold post deleveraging
Bitcoin's rising appeal over gold could shift investment strategies, potentially increasing its market influence and adoption in financial portfolios.
Powered by Gloria
Updated 1:24 p.m. ET
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.