✉news BusinessCrypto first seen 1 d ago, last 1 d ago, peak #29
JPMorgan Debuts Bitcoin Forecast but Rejects Debasement Trade
JPMorgan has introduced its first formal Bitcoin price forecast, while pushing back against the popular narrative that Bitcoin is a hedge against currency debasement. The bank's analysts laid out a target framework for the cryptocurrency but argued it should not be grouped with gold as a debasement trade, a stance that is drawing attention from crypto investors and market watchers.
Why now: A major bank issuing its first Bitcoin forecast while rejecting the popular debasement-hedge argument is notable news for crypto markets.
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