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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