Bitcoin makes new low, JPMorgan says lower still

Advertisement

by Chris Becker

Predictions are hard to make, especially about the future direction of cryptocurrencies. Bitcoin came back from almost touching $3400USD per coin overnight, but nearly $100 lower than the breakdown price I suggested last week:

JPMorgan recently upset the HODL crowd by suggesting the true value of Bitcoin resides around $2800USD, which would take it back to its pre-bubble blowout level that I think is the next downleg in this deflation:

Advertisement

The full text of this article is available to MacroBusiness subscribers

$1 for your first month, then:
Cancel at any time through our billing provider, Stripe