Bitcoin is currently one of the trending assets to explore. As Trump won the US elections, the bullish sentiment towards BTC has expanded as of late, giving the cryptocurrency market a much-needed boost and strength. In this wake, JP Morgan, the banking giant, has come forth to forecast a compelling analysis with regards to Bitcoin, adding how 2025 may usher in a rather bold and strong outlook for Bitcoin to embrace and adapt to.
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JP Morgan Is Big On Crypto: What’s Happening?
Source: electric-vehicles.com
Trump is known for his pro-crypto stance. As he soon assumes the presidential role, Trump is set to play a pivotal role in diversifying the cryptocurrency market by expanding its role in the current financial realm. For instance, the banking giant JP Morgan outlined how Trump’s policies, particularly his debasement strategy, can usher in a new era for Bitcoin next year.
In a detailed report released by the bank on Wednesday, JP Morgan outlined how Trump’s recent election victory could bolster both Bitcoin and Gold’s prospects. The report streamlined Trump’s emphasis on the debasement trade approach, which roughly entails acquiring assets like gold and BTC that increase with time and help nations at the time of currency devaluation.
“We do not see the initial negative market reaction by gold. As a rejection of the ‘debasement trade’ under a Trump win. After all, BTC, the other component of the ‘debasement trade,’ rallied after the Trump win.” JP Morgan’s Nikolaos Panigirtzoglou later shared
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Gold Maintains Momentum, BTC Rises Post Trump’s Iconic Victory
At press time, Gold is currently trading at $2,694. This downtick was expected earlier, as the AUX seems to have dropped down to aim for a higher price mark. Furthermore, BTC is up 1%, going strong, sitting at a price mark of $76,007.
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