According To JPMorgan, This Time In Bitcoin

According To JPMorgan, This Time In Bitcoin

According To JPMorgan, This Time In Bitcoin

 

JPMorgan believes that the Bitcoin market has changed dramatically since the historic summit in 2017, and corporate investors now have greater influence.

 

Bitcoin futures increased by 118% compared to April and reached $ 12 billion in May.

 

JPMorgan estimates that the real spot Bitcoin volume on crypto currency exchanges after deducting the counterfeit volume was about $ 36 billion in May. The report, written by JPMorgan strategists, led by Nikolaos Panigirtzoglou, draws attention to the fact that the futures market has a transaction volume of 33 percent of the spot market.

According To JPMorgan, This Time In Bitcoin

According To JPMorgan, This Time In Bitcoin

According to JPMorgan, the importance of the Bitcoin futures market is not well understood due to counterfeit volumes. The report suggests that the market structure has changed dramatically since Bitcoin prices peaked in December 2017, and institutional investors now have a greater impact.

The data indicates that this effect is growing. Estimated futures volumes in April amounted to $ 5.5 billion, compared to $ 1.8 billion in the first quarter of 2019.

The historic rise in price to $ 20,000 was largely the result of the impact of individual investors and was therefore extremely unstable, as confirmed in the subsequent collapse. This rise is seen as a result of institutional purchases that are more stable and less prone to sudden changes in sensitivity and volatility.

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