JPMorgan Predicts Bitcoin Will Collapse to $13,000 #JPMorgan #Predicts #Bitcoin #Collapse

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Alex Dovbnya

In the meantime, Fundstrat’s Mark Newton believes that Bitcoin could slip down below the $10,000 level

JPMorgan scientists consider that the cost of Bitcoin, the world’s largest cryptocurrency, could be on monitor to fall to $13,000 due to the FTX disaster. 

Notably, the American banking big thinks that Bitcoin will most likely fall under its output cost, which currency stands at roughly $15,000.   

JPMorgan has predicted that the market will have to deal with “a cascade of margin calls” induced by the implosion of a single of the premier cryptocurrency exchanges in the future weeks.           

On Nov. 9, the price tag of the most significant cryptocurrency dropped to a new two-calendar year reduced of $15,632. 


Bitcoin may well plunge under $10,000  

Bitcoin has now bounced back to $16,784, but several analysts are persuaded that the crypto king is likely to plunge reduced. 

Mark Newton, Fundstrat’s head of technological method, has predicted that Bitcoin is very likely to check the $13,000 degree ahead of any assistance. 

Having said that, Newton does not rule out that bears could control to push the largest cryptocurrency below the $10,000 amount if there is abnormally substantial volatility.    

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