JPMorgan claims Bitcoin more attractive than gold post deleveraging

Compared to gold, Bitcoin is perceived as offering a higher reward for its adjusted risk level.

Key Takeaways

• JPMorgan analysts view Bitcoin as more attractive than gold after recent deleveraging in the market.
• The recent price collapse to below $100,000 was viewed as a technical market event driven by deleveraging and security scares.

<?xml encoding="UTF-8">

JPMorgan, a major US bank, claims Bitcoin has become more attractive than gold following a period of deleveraging, MarketWatch reported today.

Analyst Nikolaos Panigirtzoglou noted that a sharp liquidation in perpetual futures and a $128 million crypto theft from the decentralized-finance protocol Balancer contributed to the recent pullback.

Panigirtzoglou estimates Bitcoin could climb to $170,000 over the next 6–12 months on a volatility-adjusted basis.

Disclaimer