JPMorgan: More Gloomy Days Ahead For Bitcoin

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The last six weeks have been among the worst in bitcoin’s history. Despite only being in existence for just 12 years, the world’s most valuable digital currency has had its fair share of gloomy days and price swings. However, according to a new report from financial giant JPMorgan, bitcoin’s price, which has been plummeting in recent weeks, could fall even more before stabilizing. More Gloomy Days Ahead Since its inception over 12 years ago, the currency has been going through its roughest period. The asset eventually hit a peak of roughly $64,000 in mid-April, the highest point it had ever reached, albeit the world’s most valuable digital currency by market cap has since declined by about $30,000 a unit as of press time. This is far worse than anything seen by bitcoin in 2014 and 2018, two years that traders will remember for the asset’s poor performance. JPMorgan strategist Nikolaos…

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