JP Morgan, the American Investment Banking giant said the declining price volatility of Bitcoin over the past weeks has made it a more reliable asset for institutions to invest in. Bitcoin’s ongoing bull run has made it more non-corelative with the traditional stock market, thus a growing choice of investors for diversifying their investments.
The American banking giant recently added Bitcoin exposure for its wealthy clients after huge demand for the same. The bank explained,
“Institutional investment likely to arise from the recent change in the correlation structure of bitcoin relative to traditional asset classes,”
Bitcoin Price Have to Reach $130K to Flip Gold Market
The banking giant in its note also doubled down upon its earlier long-term Bitcoin price prediction of $130,000 based on converging volatility. The bank believes the recent surge in institutional interest forcing many Wall Street banks to add Bitcoin exposure for their clients is a sign of shifting the confiden
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