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.
Crypto Exchange Binance Might be Investigated for Money Laundering in India
What are shitcoins? Watch this Video to learn
Appealing to Regulators, Binance launches a Tax Reporting Tool
Leaving China, Crypto Exchanges Cancels Most of their Chinese Businesses
Patricia sponsors Big Brother Naija the 2nd time after recording 13k Users in 12 Hours
Yes! Bitcoin at $38k, See Why they Say It Has A Mind of its Own
The CBDC will lower the cost of doing business – CBN
Nigeria’s CBDC to Run on Hyperlegder Fabric
NatWest Suspends Payments to Binance
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
Hedge Trading on OKEx
Trading cryptocurrency seems cumbersome to new traders, especially those new to the crypto space. There have been a lot of...
The Chances of BTC Dropping to 40k Is Slim – Prateek Suri
The founder and Chief Executive Officer of the Maser group, Prateek Suri joined Tony Obiajuru this morning, 15th March, 2021...
Binance Smart Chain; CeFi or DeFi?
The controversy around whether or not the Binance Smart Chain is centralized or decentralized was cleared on the Inside Blockchain...
How Earnathon is Making Crypto Adoption Easier
Earnathon is making cryptocurrency education and adoption easier with its unique learn and earn platform. It’s no news that the...
NaijaCrypto CEO Says CBN Cannot Ban Cryptocurrency Trading
The Chief Executive Officer of NaijaCrypto, Chiagozie Iwu has said on the Inside Blockchain Show powered by CryptoTVPlus that the...