looks like institutions are jumping ship. who's going to buy your bags now? ahahahahahaha
>Bitcoin's more than 50% drawdown from a record November price of $69,000 highlights the boom-and-bust nature of the cryptocurrency, and that type of volatility will hinder further adoption by institutions, JPMorgan said in a Wednesday note. The bank lowered its long-term theoretical bitcoin price target of $150,000 to $38,000, which is based on the relative volatility and market size between gold and bitcoin. "Our previous projection that the bitcoin to gold volatility ratio will fall to around 2x later this year seems unrealistic. Our fair value for bitcoin based on a volatility ratio of bitcoin to gold of around 4x would be 1/4th of $150,000, or $38,000," JPMorgan said. Bitcoin currently trades around $37,000.
But how does that satisfy their karmic balance if they actively lie to you? Remember, those at the top always tell you exactly what they're going to do before they do it.
Hunter Roberts
This user gets it.
Benjamin King
cryptofags when institutions say they are bullish on bitcoin: OMG INSTITUTIONAL ADOPTION WAGMI!!!! cryptofags when institutions say they are bearish on bitcoin: who the fuck listens to institutions? wagmi!
I don’t get it. I must be missing something. Yes, they actively lie to you and most people keep believing, it’s simple.
John Flores
I have never seen a single example of big bank statements on crypto not being countertrading. Goldmans is the worst but they all do it.
Levi Johnson
Retarded boomers gonna keep making the wrong calls
Samuel Richardson
I was unironically bearish until I read this shit
Logan Rogers
It's reversed psychology, they want you to go balls deep in Bitcoin so you don't buy PMs.
Nicholas Allen
>150k when feeling bull >38k when feeling bear BOTTOM IS IN I REPEAT BOTTOM IS IN.
Luis Thomas
This is somewhat true. I think BTC doesn't see a new high for a few years. I think basically retail needs to get out of bitcoin. This will be happen because there are way more appealing shit coins and financial instruments for normies to buy other than BTC. Once the price action gets boring banks can buy and slowly bid it up over time.
Still personally way more bullish on ETH though.
Austin Green
This is the bottom signal I was looking for
Gavin Bennett
Bulltards change their tone LMFAOOO
>OMFG INSTITUTIONS ARE IN, TOO BIG TO FAILURE!!!! JPMORGAN SAYS $500K EOY, ONLY UP FROM HERE BOBO BTFO
>OMFG INSTITIUONS ARE OUT, THIS IS A BOTTOM SIGN, JPMORGAN SAYS $38K EOY, ONLY UP FROM HERE BOB BTFO
William Butler
Bear here but
>instyitutions in means less volatility and less upside probs >JP making ana nnouncement means they wanna make money it checks out. But you are probably a bot or a brownie
Jackson Gonzalez
Them announcing it...so they make more money? What?
They announce it, and then they buy it, their clients would be asking why theyre increasing bitcoin in their portfolios if they just announced bearish news for it
Someone with an account with JPmorgan ask and see if they just lowered exposure to bitcoin for clients, theyre in the business of making money, and removing or reducing btc from their clients portfolios doesn't make them money
Brayden Anderson
That is correct, yes. We at J.P. Morgan have the best interests of our clients at heart.
Do you honestly want me to answer that? How old are you 22?
Evan Garcia
Bullish
Hudson Walker
kek The kikes give you great advice actually. You just have to negate it first.
Joshua Martinez
Nobody here has a portfolio with JPM, no one on Any Forums is wealthy enough for that.
>removing or reducing btc from their clients portfolios doesn't make them money Dude, it's an investment bank with clientele, they don't do whatever the fuck they want. They're beholden to their customers just as any other business is. Crypto over the last two months has cratered >40%. You think Hyram Noseberg who has a $30M portfolio with JPM but is otherwise effectively non-engaged with emerging technologies (crypto) is gonna go "sweet, yep, let's keep that crypto in there" when volatility has just blown up in their face?
