JPMorgan Prediction: Any Crypto Upside Will Be Limited

By | April 4, 2022
The global investment bank JPMorgan & Co. has released a new forecast for the cryptocurrency industry, warning all investors and crypto enthusiasts that any further upside in the market will be limited. JPMorgan also believes that the share of stablecoins in the market is no longer excessive. The company based its findings on the relationship with stablecoins and other digital currencies. For more news about cryptocurrencies, follow the GBC Time website.

In its statement, the investment bank predicts a limited growth of the cryptocurrency market. Although the sanctions imposed on Russia led to a surge in Bitcoin and Ethereum prices in early March, the effect is not likely to last. The main reason for this is a swift fall of the stablecoin share in the global crypto market. While previously stablecoins represented nearly 10% of the total market cap, now the rate has dropped below 7%, to the 2020 level. And JPMorgan believes it will continue to decline.

At the same time, the other crypto experts, including Defiance CEO Sylvia Jablonski and the Head of Galaxy Digital Mike Novogratz, remain bullish for Bitcoin growth.

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