Exciting Bitcoin comment from JPMorgan.
The crypto market has priced in the US Fed's interest rate cut. While BTC rose above $60,000, striking increases were seen in altcoins. The uptrend in question was interrupted by the increasing tension in the Middle East. After Iran's attacks on Israel, there was a collapse in the markets.
Evaluating the geopolitical tension that has been sweeping the agenda, JPMorgan made striking statements in its investor note. The banking giant stated that the tension would benefit Bitcoin and that the US elections have not yet been priced in the markets.
The JPMorgan report stated that the last quarter will increase the trend towards Bitcoin and gold. The report stated that Bitcoin will be preferred as a "value preservation" tool.
The note published on Wednesday underlined that the markets have not yet priced in the US elections. According to the report, the elections have been left in the background due to the impact of geopolitical tension.
The report prepared under the leadership of Nikolaos Panigirtzoglou noted the following;
âEspecially Trumpâs election seems to support Bitcoin from a regulatory perspective. It could also strengthen the âbuy and sell against value lossâ strategy due to tariffs (geopolitical tensions) and expansionary fiscal policy.â
JPMorgan stated that Trumpâs election win is relatively priced in other asset classes other than gold and Bitcoin. The banking giant, stating that recession concerns have restrained the markets, suggested that the âTrump tradesâ strategy could start again. The strategy in question addresses the 2016 US elections. In the six-month period following the 2016 US elections, the dollar index rose by 8 percent, while US stocks recorded a positive performance of 6 percent.
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