Here is what it’ll take to pull bitcoin out of its bear market, according to JPMorgan

here is what itll take to pull bitcoin out of its bear market according to jpmorgan

Sumary of Here is what it’ll take to pull bitcoin out of its bear market, according to JPMorgan:

  • The bear market in bitcoin is ongoing as momentum traders unwind their positions, JPMorgan said in a note on Wednesday.
  • “We believe that the share of bitcoin in the total crypto market would have to normalize further and perhaps rise above 50%” to end the current bear market, JPMorgan said.
  • The ongoing bear market in bitcoin is showing no signs of ending anytime soon, JPMorgan said in a note on Wednesday.
  • The bank is looking for indications that the worse in bitcoin’s price decline may be behind us, but in order to argue that the bear market is over, JPMorgan wants to see bitcoin’s valuation share of the entire cryptocurrency market rise to above 50%.
  • TOP VIDEOS FOR YOU “We believe that the share of bitcoin in the total crypto market would have to normalize further and perhaps rise above 50% (as it did previously towards the end of 2018) to be more comfortable in arguing that the current bear market is behind us,” JPMorgan explained.
  • Bitcoin’s valuation share of the entire cryptocurrency market peaked near 70% earlier this year.

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