Bitcoin Gold

Gold

While the Bitcoin gold debate and comparison that has been going on for years continues, a new report came from JP Morgan.
According to Coindesk, JP Morgan said that investors did not switch from gold to Bitcoin.
Related News: <a href="https://en.bitcoinsistemi.com/will-the-bitcoin-gold-ratio-in-portfolios-change-jp-morgan-analysts-announced/" target="_blank" rel="noopener noreferrer nofollow">Will the Bitcoin Gold Ratio in Portfolios Change? JP Morgan Analysts Announced!</a>
At this point, analysts stated that although the increase in outflows in gold ETFs and the increase in Bitcoin ETF inflows, considered together, fueled speculation that investors were switching from gold to Bitcoin, this situation is not true.
JP Morgan analysts stated that retail and institutional investors purchased both gold and Bitcoin this year, and said that there has been an increase in gold and Bitcoin futures since February 2024, and that this increase reflects the balanced trend of investors.
JP Morgan analysts led by Nikolaos Panigirtzoglou stated in the report that spot ETF inflows and MicroStrategy's BTC accumulation increased the Bitcoin price, not investors switching from gold.
<blockquote>
 “Private investors and individuals have invested in both gold and Bitcoin since the beginning of 2024, rather than switching from gold to Bitcoin.
 Beyond retail investors, speculative institutional investors such as hedge funds, including momentum traders such as CTAs, have also purchased both gold and Bitcoin futures since February.
 This shows that institutional investors are more influential than retail investors in advancing the rally.
 Our analysis shows a sharp increase in positions of $7 billion in Bitcoin futures and $30 billion in gold futures since February.
 “In this rally, Bitcoin purchases made by institutional investors, specifically MicroStrategy, also played a role in strengthening the rally.”
</blockquote>
Bitcoin, which dropped to $65,000 after the correction that started yesterday, continues to be traded at $67,844 at the time of writing.
*This is not investment advice.
 Continue Reading: <a href="https://en.bitcoinsistemi.com/bitcoin-gold-comparison-from-jp-morgan-which-one-is-first/" rel="noopener noreferrer nofollow">Bitcoin Gold Comparison from JP Morgan! Which One Is First?</a>

Bitcoin Gold Comparison from JP Morgan! Which One Is First?

Bitcoin Sistemi EN

Other articles published on Mar 15, 2024

Crypto Visionary Predicts a 100X Surge for Raffle Coin (RAFF) Presale, Prompting Ethereum (ETH) &...

New Meme Coin Surge and Chainlink’s Growth in the Solana Ecosystem

This Is the Only Altcoin That Survived the Crypto Market Crash

Unlocking Value: Could American Investors Drive $1 Bitbot Price in 2024?

Bitcoin 2024 Forecasts Price, InQubeta Cointinues Impressive Uptrend Journey

Fetch.ai Crossed $2 Billion in Market Cap After FET Price Hit $2.8, But Can It Match Algotech’s P...

Join our free newsletter for daily crypto updates!