{"id":549120,"date":"2023-08-28T14:00:32","date_gmt":"2023-08-28T14:00:32","guid":{"rendered":"https:\/\/wncen.com\/?p=549120"},"modified":"2024-06-11T08:02:04","modified_gmt":"2024-06-11T08:02:04","slug":"jp-morgan-bitcoin-price","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/jp-morgan-bitcoin-price\/","title":{"rendered":"JP Morgan Explains Why Bitcoin Price May Not Fall Further"},"content":{"rendered":"

The cryptocurrency market has been in a declining trend for years. However, reports reveal a possible recovery and bullish turn for popular cryptocurrencies in the space. JP Morgan has predicted a possible price rebound for Bitcoin, saying that long-term liquidations are \u201clargely behind us.\u201d<\/span><\/p>\n

JP Morgan Sees Upside For Bitcoin Price<\/h2>\n

JP Morgan, an American multinational financial services firm published an interesting research report on Thursday, August 24. Analysts led by Nikolaos Panigirtzoglou, Managing Director at JP Morgan indicated that crypto markets are likely to emerge from the <\/span>declining trend from liquidations<\/span><\/a> and market turmoil and move into a correction phase completely.\u00a0<\/span><\/p>\n

Related Reading: Shiba Inu Whale Buys 708 Billion SHIB, Sparks Speculation Of Price Recovery<\/a><\/div>\n

They believe that the crypto market has been able to overcome a significant amount of negative factors that push the market to a \u201climited downside.\u201d Their predictions are also based on the indications of a decline in open interest in <\/span>Bitcoin futures contracts<\/span><\/a> on the Chicago Mercantile Exchange (CME), a global derivatives marketplace.\u00a0<\/span><\/p>\n

The crypto market has been on a severe declining trend while Bitcoin’s<\/span> progress has been muffled<\/span><\/a> after experiencing devastating market blows, and regulatory hurdles. The stunning fall of Terra stablecoin was one of the major challenges the industry faced, wiping over $200 billion worth of cryptocurrency assets from the space.<\/span><\/p>\n

FTX\u2019s collapse<\/span><\/a> has also pushed the evolution of cryptocurrencies back by a couple of years, shattering investor\u2019s confidence in the crypto space and hinting at the lack of a better regulatory framework in the industry.\u00a0<\/span><\/p>\n

The United States Securities and Exchange Commission (SEC) has also been in hot pursuit of new victims, throwing lawsuits against prominent exchanges and crypto firms like Binance, and Coinbase.<\/span><\/p>\n

All things considered, Bitcoin’s fight against evolutionary pressures has yielded positive results. A crypto analyst provided compelling insights on Bitcoin\u2019s network, revealing that the spikes in on-chain transfers seen in Bitcoin\u2019s network activity are a great indicator for a probable macro uptrend for the cryptocurrency.\u00a0<\/span><\/p>\n

 <\/p>\n

\n

#Bitcoin<\/a> network activity, particularly the USD value of coins transferred on-chain, is a compelling indicator for predicting macro uptrends.<\/p>\n

Historically, significant spikes in this metric have often preceded #BTC<\/a> bull runs.<\/p>\n

Given that this metric has been consolidating for\u2026 pic.twitter.com\/2zHNoBo6Yp<\/a><\/p>\n

\u2014 Ali (@ali_charts) August 26, 2023<\/a><\/p><\/blockquote>\n

Bitcoin Price On The Verge Of Recovery Following Positive Developments In Crypto Space<\/h2>\n

There have been a significant number of positive developments that have pushed the price of major cryptocurrencies, including Bitcoin upwards. Ripple\u2019s victory against the SEC is among said developments. The <\/span>XRP ruling by Judge Annalise Torres<\/span><\/a> has brought new optimism in the space and has also provided essential regulatory clarity for cryptocurrencies.\u00a0<\/span><\/p>\n

Additionally, the increase in applications for Bitcoin spot exchange-traded funds (ETFs) has also boosted its price considerably. World-leading financial services providers like <\/span>Blackrock<\/span><\/a>, <\/span>Ark Investment<\/span><\/a>, <\/span>Hashdex<\/span><\/a>, <\/span>Grayscale<\/span><\/a>, and others are already competing for a spot in Bitcoin ETF.\u00a0<\/span><\/p>\n

Related Reading: MasterCard Axes Partnership With Binance Amid Regulatory Pressures<\/a><\/div>\n

There are also reports of a potential collaboration between <\/span>Bitcoin and Elon Musk\u2019s SpaceX<\/span><\/a> to enable cross-border payments for space-linked activities.\u00a0<\/span><\/p>\n

Overall, the crypto landscape is showing signs of stability as it navigates through major industry hurdles. Crypto investors are also eagerly anticipating the potential recovery of Bitcoin and other cryptocurrencies.\u00a0<\/span><\/p>\n

\"Bitcoin<\/p>\n

BTC price retraces to $25,000 level | Source: BTCUSD on Tradingview.com<\/a><\/pre>\n
Featured image from iStock, chart from Tradingview.com<\/div>\n","protected":false},"excerpt":{"rendered":"
The cryptocurrency market has been in a declining trend for years. However, reports reveal a possible recovery and bullish turn for popular cryptocurrencies in the space. JP Morgan has predicted a possible price rebound for Bitcoin, saying that long-term liquidations are \u201clargely behind us.\u201d JP Morgan Sees Upside For Bitcoin Price JP Morgan, an American multinational financial services firm published an interesting research report on Thursday, August 24. Analysts led by Nikolaos Panigirtzoglou, Managing Director at JP Morgan indicated that crypto markets are likely to emerge from the declining trend from liquidations and market turmoil and move into a correction phase completely.\u00a0 Related Reading: Shiba Inu Whale Buys 708 Billion SHIB, Sparks Speculation Of Price Recovery They believe that the crypto market has been able to overcome a significant amount of negative factors that push the market to a \u201climited downside.\u201d Their predictions are also based on the indications of a decline in open interest in Bitcoin futures contracts on the Chicago Mercantile Exchange (CME), a global derivatives marketplace.\u00a0 The crypto market has been on a severe declining trend while Bitcoin’s progress has been muffled after experiencing devastating market blows, and regulatory hurdles. The stunning fall of Terra stablecoin was one of the major challenges the industry faced, wiping over $200 billion worth of cryptocurrency assets from the space. FTX\u2019s collapse has also pushed the evolution of cryptocurrencies back by a couple of years, shattering investor\u2019s confidence in the crypto space and hinting at the lack of a better regulatory framework in the industry.\u00a0 The United States Securities and Exchange Commission (SEC) has also been in hot pursuit of new victims, throwing lawsuits against prominent exchanges and crypto firms like Binance, and Coinbase. All things considered, Bitcoin’s fight against evolutionary pressures has yielded positive results. A crypto analyst provided compelling insights on Bitcoin\u2019s network, revealing that the spikes in on-chain transfers seen in Bitcoin\u2019s network activity are a great indicator for a probable macro uptrend for the cryptocurrency.\u00a0   #Bitcoin network activity, particularly the USD value of coins transferred on-chain, is a compelling indicator for predicting macro uptrends. Historically, significant spikes in this metric have often preceded #BTC bull runs. Given that this metric has been consolidating for\u2026 pic.twitter.com\/2zHNoBo6Yp \u2014 Ali (@ali_charts) August 26, 2023 Bitcoin Price On The Verge Of Recovery Following Positive Developments In Crypto Space There have been a significant number of positive developments that have pushed the price of major cryptocurrencies, including Bitcoin upwards. Ripple\u2019s victory against the SEC is among said developments. The XRP ruling by Judge Annalise Torres has brought new optimism in the space and has also provided essential regulatory clarity for cryptocurrencies.\u00a0 Additionally, the increase in applications for Bitcoin spot exchange-traded funds (ETFs) has also boosted its price considerably. World-leading financial services providers like Blackrock, Ark Investment, Hashdex, Grayscale, and others are already competing for a spot in Bitcoin ETF.\u00a0 Related Reading: MasterCard Axes Partnership With Binance Amid Regulatory Pressures There are also reports of a potential collaboration between Bitcoin and Elon Musk\u2019s SpaceX to enable cross-border payments for space-linked activities.\u00a0 Overall, the crypto landscape is showing signs of stability as it navigates through major industry hurdles. Crypto investors are also eagerly anticipating the potential recovery of Bitcoin and other cryptocurrencies.\u00a0 BTC price retraces to $25,000 level | Source: BTCUSD on Tradingview.com Featured image from iStock, chart from Tradingview.com<\/p>\n","protected":false},"author":594,"featured_media":549128,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,656,1119,1162,2627,89242],"class_list":["post-549120","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-news","tag-btc","tag-business","tag-jp-morgan","tag-jp-morgan-news"],"acf":[],"yoast_head":"\nJP Morgan Explains Why Bitcoin Price May Not Fall Further<\/title>\n<meta name=\"description\" content=\"JP Morgan has predicted a possible price rebound for Bitcoin, saying that long-term 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During this time, Scott has been able to author countless influential pieces that have drawn in millions of readers and have shaped public opinion across various important topics. His repertoire spans hundreds of articles on various sectors in the crypto industry, including decentralized finance (DeFi), decentralized exchanges (DEXes), Staking, Liquid Staking, emerging technologies, and non-fungible tokens (NFTs), among others. Scott\u2019s influence is not just limited to the countless discussions that his publications have sparked but also as a consultant for major projects in the space. He has consulted on issues ranging from crypto regulations to new technology deployment. Scott\u2019s expertise also spans community building and contributes to a number of causes to further the development of the crypto industry. Scott is an advocate for sustainable practices within the crypto industry and has championed discussions around green blockchain solutions. His ability to keep in line with market trends has made his work a favorite among crypto investors. In his personal life, Scott is an avid traveler and his exposure to the world and various way of life has helped him to understand how important technologies like the blockchain and cryptocurrencies are. This has been key in his understanding of its global impact, as well as his ability to connect socio-economic developments to technological trends around the globe like no one else. Scott is known for his work in community education to help people understand crypto technology and how its existence impacts their lives. He is a well-respected figure in his community, known for his work in helping to enlighten and inspire the next generation as they channel their energies into pressing issues. His work is a testament to his dedication and commitment to education and innovation, as well as the promotion of ethical practices in the rapidly developing world of cryptocurrencies. Scott stands steady in the frontlines of the crypto revolution and is committed to helping to shape a future that promotes the development of technology in an ethical manner that translates to the benefit of all in the society.","sameAs":["https:\/\/x.com\/https:\/\/twitter.com\/MathersonScott"],"url":"https:\/\/wncen.com\/author\/mathersonscott1\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"JP Morgan Explains Why Bitcoin Price May Not Fall Further","url":"http:\/\/wncen.com\/news\/jp-morgan-bitcoin-price\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/jp-morgan-bitcoin-price\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1358183687.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1358183687.jpg?fit=1212%2C866"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Scott Matherson"}],"creator":["Scott Matherson"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin news","btc","business","jp morgan","jp morgan news"],"dateCreated":"2023-08-28T14:00:32Z","datePublished":"2023-08-28T14:00:32Z","dateModified":"2024-06-11T08:02:04Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"JP Morgan Explains Why Bitcoin Price May Not Fall Further\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/jp-morgan-bitcoin-price\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/jp-morgan-bitcoin-price\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1358183687.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/08\\\/iStock-1358183687.jpg?fit=1212%2C866\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Scott Matherson\"}],\"creator\":[\"Scott Matherson\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin news\",\"btc\",\"business\",\"jp morgan\",\"jp morgan news\"],\"dateCreated\":\"2023-08-28T14:00:32Z\",\"datePublished\":\"2023-08-28T14:00:32Z\",\"dateModified\":\"2024-06-11T08:02:04Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/08\/iStock-1358183687.jpg?fit=1212%2C866","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549120"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/594"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=549120"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/549120\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/549128"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=549120"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=549120"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=549120"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}