Amidst the current price turbulence in the BTC market, experts at renown Investment Bank, JP Morgan, posit that the leading currency’s price instability may hinder it from progressing over the $50k range, they hold that its price volatility has to recline for it to continue to do what it is perceived to know best to do- scale.
Reuters released a publication on Tuesday the 16th of February, 2021 to the effect that bitcoin (BTC, +8.12%)‘s “high volatility” as compared to God’s money-gold (which is a comparative example of an inflationary hedge), is on the high end and has the potential to stall the leading currency from scaling pasts its record high of its current $50k range.
JP Morgan notes:
“Bitcoin’s three-month realized volatility, or actual price moves, is 87% versus 16% for gold – an asset, proponents say it could threaten.”
While crypto proponents like Michael Saylor, Musk (now), Robert Kiyosaki etc are very bullish about the leading currency and its potentials as an alte store of value, crypto sceptics maintain that its volatility makes it quite unattractive to investors who want to be able to measure based on relatively foreseeable factors.
Nevertheless, the likes of Saylor’s Microstrategy, and Tesla etc, have stashed significant sums in the leading currency. The world awaits other fortune 500 companies to follow suit. Some ardent crypto merchants foresee a future where many more institutional investors will take the crypto sector as a major investment arena.
On the flipside, JPMorgan posits that many institutional investors find BTC’s volatility quite unattractive and may not follow in Tesla’s steps. The Wedbush Securities also published a statement along this line on Tuesday the 16th of February, 2021
For context, the leading currency is currently exchanging hands at $52,303.00 today, the 17th of February, 2021.
What is your take on the above? Let us read it in the comment section below.
Latest Episode on Inside Blockchain
Crypto News Update
Crypto Bootcamp Community Celebrates Bitcoin Pizza Day Across Africa
The advent of Bitcoin has paved the way for seamless cross-border payments. The demand for third-party intervention in financial transactions...
Explore, Build Assets, Fight and Earn in the Supernova Space
A new economy was opened in 2017 when blockchain was integrated into gaming to produce the first Web3 game: CryptoKitties....
Owl.Games: The Rise of Crypto Games in the Casino Industry
Crypto gaming used to be new a few years ago but it’s going mainstream now. However, there are some sectors...
BCAT Africa: Reducing Unemployment in Africa
One of the greatest lines spoken in the Spiderverse is “with great power comes great responsibility”, although it can be...
Gamified NFT Platform Trove Announces Launch Partners SideQuest
Trove has announced its new Launch Partnership with SideQuest, a gamified risk-to-earn NFT collection. It was announced on Twitter today. ...