What Do Institutions Sell Bitcoin (BTC) and buy ...!!!
According to #JPMorgan experts, #BTC sellers buy gold.
Bitcoin (BTC) price has declined to $ 30,400 today and has experienced a movement that crypto money investors have never seen.
🆘Bitcoin Caused a Heart Attack to Investors
This situation of Bitcoin has led to the belief that the cryptocurrency market is still not mature enough for institutional investors. The 50% depreciation of the cryptocurrency industry within two days may cause the Bitcoin ETF expectations to fall into ruin this year as well.
Since mid-2020, Bitcoin's rise has surpassed the rise of gold, and precisely this, the chances of a Bitcoin ETF being approved have increased. The U.S. Securities and Exchange Commission (SEC) has received multiple Bitcoin ETF applications in this regard and is in the process of evaluating them. This sudden drop could lead to a big change, according to both analysts and JPMorgan experts.
🆘Bitcoin ETF Dreams Are Flooded
Reporting that gold investors started to invest in Bitcoin from gold ETF products in the past months, JPMorgan emphasized that the opposite is happening now. In the latest report of JP Morgan experts, it was emphasized that the competition between Bitcoin and gold is beginning to change and gold is on the rise. Stating that gold prices may rise up to 10 times, experts think that Bitcoin will stay behind.
JP Morgan experts stated that investors and especially corporate names that sell Bitcoin started to buy gold and stated that there was an asset transfer of billions of dollars. Stating that institutional investors are now interested in gold, experts also explained that this is not a temporary trend.
🚨Bitcoin Price Recovers
Bitcoin price, on the other hand, fell to $ 30,400 today and rose to $ 40,000 as of now, after causing panic. According to the BTC / USD parity, the price should stay above $ 39,000 when it closes daily.
Bitcoin's remaining above $ 39,000 at the daily close may indicate that $ 45,000 is the target again