Jamie Dimon’s JPMorgan warns Bitcoin price is ‘too high at present’
While momentum is growing, the price movement is sparking debate. Some skeptics believe it might be overvalued.
As J.P. Morgan analysts noted in a recent publication, these liquidations are expected to subside after July. “This is because the bitcoin price is too high at present, not only against its production cost but also its vol-adjusted comparison to gold, which currently stands at $53k,” analysts wrote in a note.
The probability of a Trump win increased further following last weekend’s events, with betting odds rising to around 70%, up from 60% before last weekend and 50% before the June 27th presidential election debate.
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