Bitcoin

JPMorgan Forecasts That Bitcoin Will Fall To $13,000

According to JPMorgan experts, the FTX catastrophe may have caused the price of Bitcoin, the most popular cryptocurrency in the world, to plunge as low as $13,000.

JPMorgan Forecasts That Bitcoin Will Fall To $13,000 3

Notably, the American financial behemoth thinks that Bitcoin, whose price is currently at $15,000, may eventually go below its production cost.

According to JPMorgan, the downfall of one of the biggest cryptocurrency exchanges would result in “a cascade of margin calls” that the market will have to deal with in the coming weeks. The cost of the biggest cryptocurrency fell to a new two-year low of $15,632 on November 9.

Bitcoin may plunge below $10,000

JPMorgan Forecasts That Bitcoin Will Fall To $13,000 4

Although Bitcoin has now recovered to a price of $16,784, many analysts are of the opinion that it may soon fall even worse. According to Mark Newton, head of technical strategy at Fundstrat, Bitcoin will likely hit the $13,000 mark before finding support.

Newton does not, however, rule out the possibility that, in the event of very strong volatility, bearish could succeed in driving the largest cryptocurrency below the $10,000 mark.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

Join us to keep track of news: https://linktr.ee/coincu

Website: coincu.com

Annie

CoinCu News

Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.

Recent Posts

Bitcoin Spot ETF Inflows Hit $510M, Marking Six-Day Streak

Bitcoin Spot ETF Inflows have reached $510 million as of November 13, marking six consecutive…

42 minutes ago

Solana DEX Trading Volume Hits $5B Daily for Three Straight Days

Solana DEX trading volume reached historic highs, exceeding $5 billion daily for three days. Raydium…

3 hours ago

Phantom iOS Users Lost Recovery Phrase After Updating to New Version

Phantom iOS users are warned that a recent app update caused some users to log…

3 hours ago

Japanese Crypto Exchange Coincheck Gets Approval to Launch in the US

Japanese crypto exchange Coincheck is set to become the first Japanese crypto exchange to list…

4 hours ago

DOJ Investigates Polymarket for Alleged Illegal US User Bets

The US DOJ investigates Polymarket for Alleged Illegal US User Bets Polymarket, for allegedly permitting…

5 hours ago

Get Ready for a New Level of Excitement If You Missed Ethereum ICO: Qubetics Could Redefine Success

Ethereum’s ICO was priced at around $0.30 per token, and today, it’s valued in the…

5 hours ago

This website uses cookies.