{"id":27541,"date":"2023-08-25T23:43:34","date_gmt":"2023-08-25T23:43:34","guid":{"rendered":"https:\/\/coingrafter.com\/index.php\/2023\/08\/25\/jpmorgan-analyst-says-weakness-in-bitcoin-is-at-its-end-phase\/"},"modified":"2023-08-25T23:43:34","modified_gmt":"2023-08-25T23:43:34","slug":"jpmorgan-analyst-says-weakness-in-bitcoin-is-at-its-end-phase","status":"publish","type":"post","link":"https:\/\/coingrafter.com\/index.php\/2023\/08\/25\/jpmorgan-analyst-says-weakness-in-bitcoin-is-at-its-end-phase\/","title":{"rendered":"JPMorgan analyst says weakness in Bitcoin is &#8216;at its end phase&#8217;"},"content":{"rendered":"<p> [ad_1]<br \/>\n<\/p>\n<div>\n<div class=\"post-article-image  -mt-24  mb-8  lg:-mt-32  rounded  overflow-hidden\">\n<picture><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/165963193_m_normal_none-min-smartcrop-750x375.webp\" type=\"image\/webp\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/165963193_m_normal_none-min-smartcrop-363x181.webp\" type=\"image\/webp\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/165963193_m_normal_none-min-smartcrop-750x375.jpg\" type=\"image\/jpeg\" media=\"(min-width: 750px)\"\/><source srcset=\"https:\/\/coinjournal.net\/wp-content\/uploads\/imagecache\/2023\/08\/165963193_m_normal_none-min-smartcrop-363x181.jpg\" type=\"image\/jpeg\"\/><img decoding=\"async\" src=\"https:\/\/coinjournal.net\/wp-content\/uploads\/2023\/08\/165963193_m_normal_none-min.jpg\" alt=\"jpmorgan analyst view on bitcoin price\" width=\"100%\" height=\"100%\"\/>\n<\/picture>                    <\/div>\n<ul>\n<li>Nikolaos Panigirtzoglou is satisfied that worst is behind us in Bitcoin.<\/li>\n<li>He agreed that there not too long ago have been optimistic information in crypto market.<\/li>\n<li>Price of a Bitcoin has declined almost 17% in lower than two months.<\/li>\n<\/ul>\n<p>A JPMorgan analyst is satisfied that the worst is behind us so far as the continued decline in the value of a <a href=\"https:\/\/coinjournal.net\/news\/tag\/bitcoin\/\">Bitcoin<\/a> is involved.<\/p>\n<h2>Bitcoin is not the one one taking a success<\/h2>\n<p>Nikolaos Panigirtzoglou attributes current weakness in the world\u2019s largest cryptocurrency to a bunch of lengthy positions that have been liquidated as optimistic information, together with the pending approval of a <a href=\"https:\/\/coinjournal.net\/news\/sec-delays-decision-on-ark-invest-spot-bitcoin-etf\/\">Spot Bitcoin ETF<\/a> continued to fade however added:<\/p>\n<blockquote>\n<p>This unwinding of lengthy positions seems to be at its end part slightly than its starting. As a end result, we see restricted draw back for crypto markets over the close to time period.<\/p>\n<\/blockquote>\n<p>Note that Bitcoin is not the one risk-on asset that has had a tricky few weeks. China-related considerations and better actual yields in the U.S. have been hitting the <a href=\"https:\/\/www.investopedia.com\/markets-fall-at-midday-as-tech-stocks-sink-7574522\" target=\"_blank\" rel=\"noopener\">tech space<\/a> at massive.<\/p>\n<p>Nasdaq Composite is now down about 7.0% versus its current excessive.<\/p>\n<h2>Why are buyers staying on the sidelines?<\/h2>\n<p>Panigirtzoglou agrees that there was optimistic information in the crypto market together with PayPal Holdings introducing its personal dollar-pegged stablecoin (<a href=\"https:\/\/coinjournal.net\/news\/paypal-launches-a-us-dollar-stablecoin-on-the-ethereum-blockchain\/\">read more<\/a>) and the launch of \u201cBase\u201d by <a href=\"https:\/\/coinjournal.net\/news\/tag\/coinbase\/\">Coinbase Global Inc<\/a>.<\/p>\n<p>But buyers are staying on the sidelines and ready for regulatory readability partly as a result of the Securities &amp; Exchange Commission has <a href=\"https:\/\/www.coindesk.com\/policy\/2023\/08\/18\/xrp-ruling-needs-appeals-court-review-sec-says\/\" target=\"_blank\" rel=\"noopener\">appealed<\/a> the current determination in Ripple\u2019s favour, as per his analysis notice in the present day.<\/p>\n<blockquote>\n<p>Appeal may end result in a trial with consequence not anticipated till subsequent 12 months, inducing a brand new spherical of authorized uncertainty for crypto and making them delicate to any mid-process information.<\/p>\n<\/blockquote>\n<p>On Friday, Fed Chair Powell additionally stated on the <a href=\"https:\/\/www.federalreserve.gov\/newsevents\/speech\/powell20230825a.htm\" target=\"_blank\" rel=\"noopener\">Jackson Hole<\/a> symposium that charges could go even greater from right here and signalled no near-term intent of slicing charges which doesn\u2019t bode nicely for the cryptocurrencies both.<\/p>\n<div class=\"post-meta\">\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Share this text<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Categories<\/h6>\n<hr class=\"mb-6\"\/>\n<h6 class=\"text-3xl  mb-4  text-green-300\">Tags<\/h6>\n<\/p><\/div>\n<\/p><\/div>\n<p>[ad_2]<br \/>\n<br \/><a href=\"https:\/\/coinjournal.net\/news\/jpmorgan-analyst-view-on-bitcoin-price\/\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>[ad_1] Nikolaos Panigirtzoglou is satisfied that worst is behind us in Bitcoin. He agreed that there not too long ago have been optimistic information in crypto market. Price of a Bitcoin has declined almost 17% in lower than two months. A JPMorgan analyst is satisfied that the worst is behind us so far as the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":27543,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"ocean_post_layout":"","ocean_both_sidebars_style":"","ocean_both_sidebars_content_width":0,"ocean_both_sidebars_sidebars_width":0,"ocean_sidebar":"","ocean_second_sidebar":"","ocean_disable_margins":"enable","ocean_add_body_class":"","ocean_shortcode_before_top_bar":"","ocean_shortcode_after_top_bar":"","ocean_shortcode_before_header":"","ocean_shortcode_after_header":"","ocean_has_shortcode":"","ocean_shortcode_after_title":"","ocean_shortcode_before_footer_widgets":"","ocean_shortcode_after_footer_widgets":"","ocean_shortcode_before_footer_bottom":"","ocean_shortcode_after_footer_bottom":"","ocean_display_top_bar":"default","ocean_display_header":"default","ocean_header_style":"","ocean_center_header_left_menu":"","ocean_custom_header_template":"","ocean_custom_logo":0,"ocean_custom_retina_logo":0,"ocean_custom_logo_max_width":0,"ocean_custom_logo_tablet_max_width":0,"ocean_custom_logo_mobile_max_width":0,"ocean_custom_logo_max_height":0,"ocean_custom_logo_tablet_max_height":0,"ocean_custom_logo_mobile_max_height":0,"ocean_header_custom_menu":"","ocean_menu_typo_font_family":"","ocean_menu_typo_font_subset":"","ocean_menu_typo_font_size":0,"ocean_menu_typo_font_size_tablet":0,"ocean_menu_typo_font_size_mobile":0,"ocean_menu_typo_font_size_unit":"px","ocean_menu_typo_font_weight":"","ocean_menu_typo_font_weight_tablet":"","ocean_menu_typo_font_weight_mobile":"","ocean_menu_typo_transform":"","ocean_menu_typo_transform_tablet":"","ocean_menu_typo_transform_mobile":"","ocean_menu_typo_line_height":0,"ocean_menu_typo_line_height_tablet":0,"ocean_menu_typo_line_height_mobile":0,"ocean_menu_typo_line_height_unit":"","ocean_menu_typo_spacing":0,"ocean_menu_typo_spacing_tablet":0,"ocean_menu_typo_spacing_mobile":0,"ocean_menu_typo_spacing_unit":"","ocean_menu_link_color":"","ocean_menu_link_color_hover":"","ocean_menu_link_color_active":"","ocean_menu_link_background":"","ocean_menu_link_hover_background":"","ocean_menu_link_active_background":"","ocean_menu_social_links_bg":"","ocean_menu_social_hover_links_bg":"","ocean_menu_social_links_color":"","ocean_menu_social_hover_links_color":"","ocean_disable_title":"default","ocean_disable_heading":"default","ocean_post_title":"","ocean_post_subheading":"","ocean_post_title_style":"","ocean_post_title_background_color":"","ocean_post_title_background":0,"ocean_post_title_bg_image_position":"","ocean_post_title_bg_image_attachment":"","ocean_post_title_bg_image_repeat":"","ocean_post_title_bg_image_size":"","ocean_post_title_height":0,"ocean_post_title_bg_overlay":0.5,"ocean_post_title_bg_overlay_color":"","ocean_disable_breadcrumbs":"default","ocean_breadcrumbs_color":"","ocean_breadcrumbs_separator_color":"","ocean_breadcrumbs_links_color":"","ocean_breadcrumbs_links_hover_color":"","ocean_display_footer_widgets":"default","ocean_display_footer_bottom":"default","ocean_custom_footer_template":"","ocean_post_oembed":"","ocean_post_self_hosted_media":"","ocean_post_video_embed":"","ocean_link_format":"","ocean_link_format_target":"self","ocean_quote_format":"","ocean_quote_format_link":"post","ocean_gallery_link_images":"on","ocean_gallery_id":[],"footnotes":""},"categories":[3],"tags":[551,20,1557,4234,2216],"class_list":["post-27541","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-bitcoin","tag-analyst","tag-bitcoin","tag-jpmorgan","tag-phase","tag-weakness","entry","has-media","owp-thumbs-layout-horizontal","owp-btn-normal","owp-tabs-layout-horizontal","has-no-thumbnails","has-product-nav"],"_links":{"self":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/27541","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/comments?post=27541"}],"version-history":[{"count":1,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/27541\/revisions"}],"predecessor-version":[{"id":27542,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/posts\/27541\/revisions\/27542"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media\/27543"}],"wp:attachment":[{"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/media?parent=27541"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/categories?post=27541"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/coingrafter.com\/index.php\/wp-json\/wp\/v2\/tags?post=27541"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}