Excessive Volatility Hindering Further Mainstream Adoption of Bitcoin, JPMorgan Says

Posted on by American Coins & Gold

Excessive Volatility Hindering Further Mainstream Adoption of Bitcoin, JPMorgan Says
Bitcoin’s biggest challenge is its volatility and the boom and bust cycles that hinder further institutional adoption, JPMorgan said in a research report.The bank’s fair value estimate for bitcoin – based on the volatility ratio of bitcoin to gold – fell to around four times, or $38,000, analysts led by Nikolaos Panigirtzoglou wrote in the note published last week.JPMorgan said its previous forecast of the bitcoin to gold ratio falling to around two times now seems unrealistic. The bank sees significant headwinds for both bitcoin and ethereum going forward. The challenge for ethereum is different to that for bitcoin, as…