JPMorgan Says Bitcoin Crash Survival Shows It Has Staying Power
JP Morgan's strategists, Joshua Younger and Nikolaos Panigirtzoglou claim that during the crisis in March, bitcoin successfully passed its first real "stress test" Grin Grin
They also argue that Bitcoin rarely deviates from its intrinsic value or mining costs in the last few months and so shows its resilience.
They say the market structure of BTC was “more resilient” than forex, stocks and gold Grin Grin
"Cryptocurrencies largely survived the shooting range in March, indicating the longevity potential of this asset class," they added, "but price action indicates their continued use more as a means of investment than as a means of exchange or trade in value."
From this report, it seems that classic investors are increasingly falling in love with bitcoin.
What do you think about that?
Original report: https://www.bloomberg.com/news/articles/2020-06-12/jpmorgan-says-bitcoin-crash-survival-shows-it-has-staying-power
Another source: https://crobitcoin.com/j-p-morgan-bitcoin-je-prosao-prvi-stres-test/?utm_source=email&utm_medium=newsletter&utm_campaign=news