JPMorgan Expects 'Limited Downside' for Bitcoin (BTC)
Despite the rather unimpressive start to the year, JPMorgan has stated its expectation for a “limited downside” for Bitcoin (BTC). Indeed, after the price of the digital asset failed to respond positively to Spot Bitcoin ETF approvals to start the year, many have expressed concern. However, the financial firm has shared a positive outlook regarding the asset in a research note that was published this week. Specifically, its Analysis has featured a focus on the dynamics of Grayscale Bitcoin Trust (GBTC) and the other Spot Bitcoin ETFs in the United States. Also Read: US Government to Sell $130M Worth of Bitcoin From Silk Road JPMorgan Still Positive on Bitcoin Despite 2024 Start At the end of 2023, the digital asset industry was infused with incredible optimism. Indeed, the arrival of Spot Bitcoin ETFs was expected in 2024’s first week. Subsequently, many have viewed those approvals as a catalyst for the industry at large. However, just one month into the ...