JPMorgan Analyst Says Bitcoin Correction is Largely Over: Report

08/27 14:40

According to JPMorgan analyst, Bitcoin has limited downside after its recent correction to $25,000. The sell-off was caused by legal and regulatory news, but it appears to be in its end phase based on the open interest on Bitcoin futures contracts. The analysts predict limited downside for crypto markets in the near term and note that market participants are waiting for a decision on a spot Bitcoin ETF and for the SEC to appeal its case against Ripple. Bitcoin is currently trading at $26,001.

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