{"id":42819,"date":"2021-05-20T10:44:06","date_gmt":"2021-05-20T07:44:06","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=42819"},"modified":"2025-08-31T00:54:33","modified_gmt":"2025-08-30T21:54:33","slug":"jpmorgan-institutions-could-shift-capital-from-bitcoin-into-gold","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/jpmorgan-institutions-could-shift-capital-from-bitcoin-into-gold\/","title":{"rendered":"JPMorgan: institutions could shift capital from Bitcoin into gold"},"content":{"rendered":"<p><a href=\"https:\/\/u1f987.com\/en\/news\/bitcoin-price-falls-below-35000\">A correction in the crypto market<\/a> could push institutional investors toward panic selling of Bitcoin and a move into gold. That view was presented by JPMorgan analysts, CNBC reports.<\/p>\n<p>The driver will be doubts about Bitcoin&#8217;s ability to serve as a store of value. Against the backdrop of a growing correction in Bitcoin, gold prices have risen about 6% since the start of May.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The pattern of flows in Bitcoin points to a further reduction in institutional presence. In the last month, futures markets have experienced the sharpest and most sustained liquidation since October last year,<\/em> they explained.<\/p>\n<\/blockquote>\n<p>In the long term, analysts stand by their forecast that Bitcoin could reach around <a href=\"https:\/\/u1f987.com\/en\/news\/jpmorgan-forecasts-bitcoin-at-146000\">$146,000<\/a>. For the current volatility ratio between gold and its digital counterpart, they consider $35,000 to be an appropriate estimate.<\/p>\n<p>Mike McGlone, senior commodities strategist at Bloomberg Intelligence, is convinced that the positive momentum in the precious metal will pose challenges for Bitcoin, the leading cryptocurrency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\">\n<p><em>The potential for gold to rise to the 2020 highs by 20% provides a sufficient basis for a renewed uptrend. For Bitcoin, as its alternative, this could create headwinds<\/em>, he wrote.<\/p>\n<\/blockquote>\n<blockquote class=\"twitter-tweet\">\n<p lang=\"en\" dir=\"ltr\">Technical Outlook \u2014 It\u2019s a <a href=\"https:\/\/twitter.com\/hashtag\/Gold?src=hash&#038;ref_src=twsrc%5Etfw\">#Gold<\/a> Bull-Market<br \/>Gold\u2019s 20% discount to its 2020 record high is sufficient for a resumption of a bull market for the metal, as we see it, but store-of-value newcomer <a href=\"https:\/\/twitter.com\/hashtag\/Bitcoin?src=hash&#038;ref_src=twsrc%5Etfw\">#Bitcoin<\/a> is likely to remain a headwind to its upside. <a href=\"https:\/\/t.co\/lzF60Yhw7U\">pic.twitter.com\/lzF60Yhw7U<\/a><\/p>\n<p>\u2014 Mike McGlone (@mikemcglone11) <a href=\"https:\/\/twitter.com\/mikemcglone11\/status\/1394606478791782406?ref_src=twsrc%5Etfw\">May 18, 2021<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Earlier, JPMorgan Chase chief Jamie Dimon confirmed that the bank&#8217;s clients are interested in the first cryptocurrency.<\/p>\n<p>In April 2021, it emerged that JPMorgan <a href=\"https:\/\/u1f987.com\/en\/news\/media-jpmorgan-to-launch-bitcoin-fund\">bitcoin fund<\/a> was planned to launch.<\/p>\n<p>Subscribe to ForkLog news on <a href=\"https:\/\/www.facebook.com\/forklog\" target=\"_blank\" rel=\"nofollow noopener\">Facebook<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"<p>A correction in the crypto market could push institutional investors to panic-sell Bitcoin and move into gold, according to JPMorgan analysts cited by CNBC.<\/p>\n","protected":false},"author":1,"featured_media":42820,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[18,536,229,1138],"class_list":["post-42819","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin","tag-gold","tag-jpmorgan","tag-opinions"],"aioseo_notices":[],"amp_enabled":true,"views":"14","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42819","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=42819"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42819\/revisions"}],"predecessor-version":[{"id":42821,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/42819\/revisions\/42821"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/42820"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=42819"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=42819"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=42819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}