This could change the trend of Bitcoin according to JP Morgan

JP Morgan analysts have presented a new report where they determine that certain recent events could change the trend of Bitcoin, according to JP Morgan calculate that the value of Bitcoin would be around 38k in the short term.

However these 3 factors could turn the market around and put us in a new bullish race:

• First serious factor in which Russia will recognize cryptocurrencies as legal means of payment in the country, this is very different in accepting them as digital media since being legal means of payment encourages people to a massive adoption.

• Second factor is the adoption of cryptocurrencies announced by several banks such as WELLS FARGO, Bank of America, BBVA among others.

• Third key factor is the adoption of the world’s largest investment funds and companies like Apple and Google, which already accept cryptocurrency cards in their payment processors.

Under consideration of these key factors, JP Morgan says that in the medium term the price of Bitcoin will be around 50k and in the long run it could be around 150k, however they expect a confirmation during the next 2 weeks, to see if the downtrend is over or will continue for a few more weeks.

Trends in Cryptocurrency: 10/02/2022

·         Winners:

- BNX/USDT approx. 52% of earnings.

- SLP/USDT approx. 55% of earnings.

- EPS/USDT approx. 30% of earnings.

·         Losers:

- IDEX/BTC approx. -13% lost.

- ACH/USDT approx. -11% lost.

- DEGO/USDT approx. -10% lost.

Thank you for reading my article I hope you find it useful, if you like let me know with your wonderful like or comment...