WebsCrypto
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
Facebook Twitter LinkedIn Telegram
WebsCryptoWebsCrypto
ADVERTISE
  • News
  • Prices
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Policy
  • Opinions
  • Guides
  • PR
WebsCrypto
News

Jpmorgan: Bitcoin, Ethereum Face ‘Biggest Challenges’

By WebsCryptoFebruary 1, 20222 Mins Read
Jpmorgan: Bitcoin, Ethereum Face ‘Biggest Challenges'
Share
Facebook Twitter Telegram LinkedIn Reddit Email

JPMorgan Chase sent an investment report to clients this week, pouring cold water on bitcoin and ethereum investors and detailing what the investment bank believes is the biggest challenge BTC and ETH are facing right now.

The bank said the biggest barrier to Bitcoin’s adoption is high volatility; while Ethereum’s dominance in decentralized finance (Defi) is slipping, as alternative public chains like Solana are attracting funds away from Ethereum.

As reported by the block, JPMorgan analyst Nikolaos Panigirtzoglou compared the volatility of gold and bitcoin. He mentioned that data shows that bitcoin’s long-term and short-term volatility cannot be eliminated, because bitcoin’s volatility is gold’s Five times, and regardless of the entire economic cycle, he said it would scare away investors:

This trend and equilibrium in volatility and price distribution makes it impossible to mainstream in the foreseeable future.

Related:  Ethereum Goerli Testnet Activates Shapella Upgrade with Low Node Participation Rate

The challenge for Ethereum is to face other EVM-compatible public chains competing for TVL. As more and more competitors join in, JPMorgan Chase wrote in the report:

Ethereum has failed to regain its major market share, and the price drops are increasingly similar to smaller altcoins.

Do not dump the IMF warning, El Salvador’s President Calls Bitcoin Mainstreaming and Surges

On the other hand, Nayib Bukele, President of El Salvador, who was warned by the International Monetary Fund (IMF) a few days ago, expecting him to cancel the “Bitcoin as legal tender” policy, still stands firmly in support of Bitcoin.

He mentioned on Twitter that there are more than 50 million millionaires in the world, and many rich people want bitcoins, so it is not enough to have one per person.

Not enough for half of them (millionaires) and it’s only a matter of time before prices go up.

El Salvador also increased the purchase of 410 bitcoins on the 22nd last week, which attracted the attention of the International Monetary Fund, urging it to abandon the bitcoin legal currency plan to make the country’s financial structure more secure.

There are more than 50 million millionaires in the world.

Imagine when each one of them decides they should own at least ONE #Bitcoin

But there will ever be only 21 million #Bitcoin

No enough for even half of them.

A gigantic price increase is just a matter of time.

— Nayib Bukele 🇸🇻 (@nayibbukele) January 31, 2022
DISCLAIMER: The information provided by WebsCrypto does not represent any investment suggestion. The articles published on this site only represent personal opinions and have nothing to do with the official position of WebsCrypto.
Altcoin Bitcoin DeFi Ethereum Market Policy
Related News

Report: Cryptocurrency Donations Will Exceed $10 Billion in Ten Years

India to Collect Over $19.2 Million in Cryptocurrency Taxes in FY 2023

Mike Novogratz: Despite U.S. Regulations, Cryptocurrency Markets Have Been Strong This Year

US Government Seizes $5.6 Billion Worth of Bitcoin in Three High-Profile Cases

CFTC Defines Bitcoin, Ethereum and Litecoin as Commodities, Not Securities

Balmain Launches Limited Edition NFT Series Unicorn Phygit Wearable Collection

The Latest
News March 30, 2023
Report: Cryptocurrency Donations Will Exceed $10 Billion in Ten Years
News March 30, 2023
India to Collect Over $19.2 Million in Cryptocurrency Taxes in FY 2023
Markets March 30, 2023
Mike Novogratz: Despite U.S. Regulations, Cryptocurrency Markets Have Been Strong This Year
Markets March 28, 2023
US Government Seizes $5.6 Billion Worth of Bitcoin in Three High-Profile Cases
Markets March 28, 2023
CFTC Defines Bitcoin, Ethereum and Litecoin as Commodities, Not Securities
Block 3000

WebsCrypto contains crypto news about cryptocurrencies, bitcoin, ethereum, altcoins and more.

Facebook Twitter LinkedIn Telegram RSS
Categories
  • News
  • Markets
  • Business
  • Markets
  • Opinions
  • Guides
  • Press Release
  • Sponsored
Tags
  • Bitcoin
  • Ethereum
  • Altcoins
  • NFTs
  • Blockchain
  • DeFi
  • Regulation
  • Policy
About
  • About Us
  • Contact Us
  • Advertise
  • Crypto Prices
  • Privacy Policy
  • Terms of Service
© 2023 WebsCrypto.

Type above and press Enter to search. Press Esc to cancel.