Bitcoin 
$60,521 At the time of writing, the price is trying to maintain the $ 60,000 support, but the loss of $ 61,700 reduced motivation. BTC is at risk of declining to $57,000. JPMorgan experts made ambitious predictions for Gold and Bitcoin. So what are the expectations? How will geopolitical tension affect the price future of gold and Bitcoin?
JPMorgan Bitcoin and Gold
Iranian missiles caused the Bitcoin price to drop this week. BTC, which has fallen to its lowest level in the last 15 days, will benefit from the process according to the latest assessment of JPMorgan analysts. JP Morgan Global Markets Strategy analysts Nikolaos Panigirtzoglou, Mika Inkinen, Mayur Yeole and Krutik P Mehta wrote in their market note published today;
“Increasing geopolitical tensions and the upcoming US elections could strengthen both gold and Bitcoin, fueling what some investors are calling a “debasement trade.”
Analysts initially ignored the geopolitical tensions in the gold price, but reminded them of the rise it experienced in the last quarter.
“This increase in gold prices was impacted by a 4-5% decline in the dollar and a significant 50-80 basis point decline in real US Treasury yields. However, gold’s appreciation goes beyond what these factors alone would indicate, indicating the re-emergence of the ‘depreciation trade’.”
According to analysts, reasons such as inflation concerns and weakening of confidence in emerging markets will increase the demand for Gold and Bitcoin.
Dreams and Realities
These predictions don’t seem very logical. Although Bitcoin is considered digital gold, it moves in the opposite direction to physical gold. Bitcoin, which acts like a technology stock, could not show the expected performance in the SPX rally due to its own problems. However, as the missiles were fired in recent days, it fell like the SPX.
A recent CryptoQuant analyst reminds us that despite the current diminishing returns and expanding M2 Coin Supply, Bitcoin is not tracking gold.
“As 13-week Treasury Bill yields fell in 2008, gold prices rose from $590 per ounce to $1,900 per ounce in 2011. Now a similar trend is emerging, with gold climbing from $2,000 to around $2,700. Bitcoin, often seen as ‘digital gold’, may follow this pattern, not now but in the future.”
Disclaimer: The information contained in this article does not constitute investment advice. Investors should be aware that crypto currencies carry high volatility and therefore risk, and should carry out their transactions in line with their own research.
