WP Ad Inserter plugin
Read Time:2 Minute, 6 Second

JPMorgan Chase & Co. has warned that any upside for crypto markets from here would likely be more limited. Basing their prediction on the relationship between stablecoins and the rest of the crypto market, the bank’s analyst explained that stablecoins’ share of the total crypto market cap “no longer looks excessive.”

JPMorgan’s Crypto Outlook

Global investment bank JPMorgan reportedly warned about cryptocurrency markets having limited upside in a note published last week.

JPMorgan sees stablecoins’ share of the total cryptocurrency market value as an indicator of potential for rallies or declines. Previously, when stablecoins accounted for almost 10% of the total crypto market cap, JPMorgan analyst Panigirtzoglou said it “pointed to further upside for crypto markets.”

In the note issued last week, he explained: “The share of stablecoins in total crypto market cap no longer looks excessive … This share currently stands below 7% which brings it back to its trend since 2020.” The JPMorgan analyst continued:

As a result we believe that any further upside for crypto markets from here would likely be more limited.

Panigirtzoglou pointed out that the price of bitcoin (BTC) and ether (ETH) rallied in early March following financial sanctions imposed on Russia by Western countries after its invasion of Ukraine.

The note describes: “These sanctions had raised expectations that cryptocurrencies will be used more extensively in the future to circumvent the traditional banking system given cryptocurrencies are not attached or depend on any government.”

However, citing the stablecoin share indicator, the JPMorgan analyst warned that the rallies seen in crypto markets may be coming to an end.

In February, JPMorgan predicted that the long-term price of bitcoin would reach $150,000. In January, the bank conducted a client survey and found that the majority of respondents expected the price of BTC to reach $60,000 or more this year.

Unlike JPMorgan, several people have said they see a significant upside to the crypto market. The CEO of Defiance ETFs said she remains “completely bullish on bitcoin,” expecting the price of the cryptocurrency to reach $100,000. In addition, Mike Novogratz, the CEO of Galaxy Digital, outlined a number of bullish factors affecting crypto markets last week.

What do you think about JPMorgan’s assessment of the crypto market? Let us know in the comments section below.

4 thoughts on “JPMorgan Sees Limited Upside for Crypto Markets

  1. “Under Voyager’s proposed reorganization plan, which is subject to change and requires Court approval, customers will receive a combination of the following, with the ability to select the proportion of crypto and common equity they receive, subject to certain maximum thresholds: Pro-rata share of crypto; Pro-rata share of proceeds from the 3AC recovery; Pro-rata share of common shares in the newly reorganized Company; and Pro-rata share of existing Voyager tokens.” -Voyager Crypto Exchange

    Which your share of your crypto is “subject to change”

    They are robbing people wtf 🤬

    Edit: for those of you yelling read the contract and why would I pull from “coinbase” uh coinbase is voyager, read that in the contacts or just scroll 📜 to the bottom of page 📄 it’s there.

  2. So I've been trading a number of pairs for some years now and even with the bear market I'm in the green by a good amount, but honestly it was mostly dumb luck.

    My long term investments are consolidated in QNT/ETH/BTC which I still periodically sell once 25-50% profit and then buy back in during a dip.

    What I'm looking for now is a bit of diversification, specifically projects I can stake on Kraken if possible. I'm interested in hearing what you guys are riding for the long term and why if you care to share.

    Note: SOL is out of the question; it's developers spend as much time online as the network.

  3. Robinhood, the app, quite literally takes from the poor and gives to the rich.

    In case you are too young to know the story of Robin Hood, it's the story of a man who stole from the rich and gave to the poor.

    It's tragically funny, honestly. Their app name is Robin Hood and they screw you, the retail investor, to fill the bags of hedge funds.

    If you're not sure what I'm talking about;

    Robinhood collects trade data and sells to hedge funds, who use high-frequency trading to buy positions according to YOUR (and other's) data and then sell it after it spikes.

    So say you buy some bitcoin on Robinhood and coincidentally 1000's of others are buying bitcoin too in that exact same moment, the hedgefund servers receive this data from Robinhood and instantly buys bitcoin BEFORE your order goes through and as your orders go through and the price spikes because of the volume, creating momentum, the hedge funds will sell the orders again, dumping the price. This happens CONSTANTLY. As in real-time constantly.

    This is not some conspiracy either, they've faced civil suits over the practice. It's free because you are the product.

  4. At the end of the day, these cryptocurrencies we are so frankly obsessed with are nothing more than code and protocols that require developers to develop on to become successful in the real world. Which cryptocurrencies have you had experiences with, which protocols are the easiest to develop on, which are the hardest? For example, I have heard anecdotal reports that Ethereum and Cardano are notably complex and not very developer friendly and that there may be better alternatives out there for developers. I imagine that the protocols that are most developer friendly would have greater chances of being implemented on larger scales.

Leave a Reply

Your email address will not be published.

  • bitcoinBitcoin (BTC) $ 19,546.16
  • ethereumEthereum (ETH) $ 1,332.11
  • tetherTether (USDT) $ 0.999939
  • bnbBNB (BNB) $ 283.44
  • usd-coinUSD Coin (USDC) $ 0.999534
  • xrpXRP (XRP) $ 0.514400
  • binance-usdBinance USD (BUSD) $ 1.00
  • cardanoCardano (ADA) $ 0.425551
  • solanaSolana (SOL) $ 33.02
  • dogecoinDogecoin (DOGE) $ 0.062117