JPMorgan’s Strategists: BTC Rally Will Not Last Unless Volatility Reduces

Strategists from JPMorgan Chase have recently opined that the largest cryptocurrency by market cap, Bitcoin (BTC), needs to disassociate from its increased volatility to sustain its current bull run.  The strategists led by Nikolaos Panigirtzoglou noted in a report that BTC’s current price of above $51,000 is “not sustainable” unless the cryptocurrency eases its high volatility.  BTC Volatility Not New, Sparks Controversy BTC’s volatile nature has been a major topic of discussion among global financial experts since 2017.  The asset, which spiked as high as almost $20,000 in early 2018, plunged below $10,000 that year.  This unfavorable price swing has sparked debate

Bitcoin Broke $50,000 and Crossed 1,000,000 in Mexican Peso For the First Time

Finally, Bitcoin kissed $50,000 to create a new all-time high on February 16, while yet another fiat currency entered the seven-figure zone against BTC. The new all-time high followed Microstrategy’s announcement that the company is planning to raise $600 million in convertible notes and use the proceeds to go Bitcoin shopping. The company already holds over $1.5 billion in bitcoin. Last week, BNY Mellon disclosed that it would store crypto-assets for its clients. This announcement made Bitcoin surge by 5% to test the $50,000 resistance level, marking the first, second time BTC firmly tested that resistance level. That earlier effort