Cryptocurrencies
JPMorgan Says Bitcoin Rally Unsustainable Unless Volatility Ebbs
- Largest cryptocurrency hit an all-time high on Wednesday
- Token’s rising volatility is stirring caution about outlook
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Bitcoin’s volatility needs to ease to prevent the token’s rally from fizzling, according to JPMorgan Chase & Co.
Unless swings recede rapidly, the current price of the largest cryptocurrency “looks unsustainable,” strategists led by Nikolaos Panigirtzoglou wrote in a note Tuesday.