Institutions have no appetite for Bitcoin at this price level: JPMorgan By Cointelegraph

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Institutions have no appetite for Bitcoin at this price level: JPMorgan

As (BTC) price failed to hold its breath above the $35,000 yesterday, JPMorgan (NYSE:) expects an overall bearish movement below the critical price level based on the BTC-to-gold volatility ratio.

In a note sent to investors on Wednesday, JPMorgan detailed its reasoning to see the fair value of Bitcoin between $23,000–$35,000 over the medium term. The banking giant previously pictured a $140,000 roadmap if the biggest cryptocurrency matches gold’s allocation and volatility profile.