Global investment bank JPMorgan has warned of the crypto market facing weeks of deleveraging stemming from the crisis at Sam Bankman-Fried’s crypto exchange FTX.com and trading platform Alameda Research. The firm’s analysts also predicted that the price of bitcoin could fall to $13,000.
JPMorgan on FTX and Bitcoin’s Price
JPMorgan Chase’s analysts, led by global market strategist Nikolaos Panigirtzoglou, provided their analysis of the FTX situation and a price prediction for bitcoin in a note Thursday.
The analysts explained that fewer players in the crypto space are now able to rescue weaker players, stating:
What makes this new phase of crypto deleveraging induced by the apparent collapse of Alameda Research and FTX more problematic is that the number of entities with stronger balance sheets able to rescue those with low capital and high leverage is shrinking.
Facing a liquidity crunch, FTX CEO Sam Bankman-Fried reportedly asked several major crypto exchanges, including Coin
We współpracy z: https://news.bitcoin.com/jpmorgan-expects-crypto-market-to-face-weeks-of-deleveraging-warns-bitcoin-price-could-drop-to-13k/
