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JP Morgan Maintains a Sceptic Stance on BTC, Finds Its Price Volatility Unattractive
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.”
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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.
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