Summary
- JPMorgan said Bitcoin is maintaining a more resilient trend than gold and silver, as it has seen less in the way of outflows and deteriorating liquidity.
- It analyzed that even amid heightened geopolitical tensions and rising oil-price volatility, Bitcoin is holding a relatively stable range from the high $60,000s to the low $70,000s.
- JPMorgan noted that while Bitcoin comes under downward pressure like a volatile macro asset in the early stage of a crisis, it is later supported by inflows and buying by long-term investors, reinforcing its character as a 'digital store of value.'
Forecast Trend Report by Period
An analysis suggests that Bitcoin (BTC) has recently been trading with relatively more stability than gold and silver.
According to crypto (cryptocurrency) news outlet CoinDesk on the 26th (local time), JPMorgan said in a report that "while gold is weakening amid outflows and deteriorating liquidity, Bitcoin is maintaining a more resilient trend."
Even as geopolitical tensions and oil-price volatility have intensified, Bitcoin has been seen holding a relatively stable range from the high $60,000s to the low $70,000s.
JPMorgan analyzed that "in the early stages of a crisis, Bitcoin faces downward pressure like a volatile macro asset, but as fear subsides it tends to be supported by inflows and purchases by long-term investors."
This is interpreted as a sign that Bitcoin is increasingly reinforcing its role as a 'digital store of value.'
JH Kim
reporter1@bloomingbit.ioHi, I'm a Bloomingbit reporter, bringing you the latest cryptocurrency news.
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