Is the crypto rally overachieving? Insights from JPMorgan
In a period that has seen many crypto currencies achieving positive results, many investors have started thinking again about this digital currency, wondering whether or not to invest. Not everyone shares an optimistic outlook on recent events, with JPMorgan analysts casting doubt on the sustainability of the current crypto market surge, suggesting that the “crypto rally appears excessive.” They pointed to two main factors driving the recent crypto rally. Firstly, anticipating a spot Bitcoin ETF approval in the U.S. could inject fresh funds into the cryptocurrency market. The analysts, led by Nikolaos Panigirtzoglou, mentioned in their report on Wednesday, November 8, that such approval might be viewed as a win for the crypto industry and a setback for the Securities and Exchange Commission (SEC). This could result in a more lenient SEC stance in the future. However, the analysts expressed skepticism regarding both of these factors or arguments. Cryptocurre...