Coin News

JPMorgan Says You Should Sell Your Crypto

30 Aug, 20221 min readOther
JPMorgan Says You Should Sell Your Crypto

David Kelly, chief global strategist at JPMorgan Asset Management, claims that investors should dump cryptocurrencies, Bloomberg reports.Kelly is convinced that the persistent hawkishness of the U.S. Federal Reserve will spell more trouble for digital assets.He is also bearish on large-cap tech stocks. Bitcoin has been trading in tandem with the tech-heavy Nasdaq 100 index this year, failing to act as an inflation hedge.The Bitcoin price is trading above $20,000 at press time after falling below the pivotal level.Last month, JPMorgan noted that the top cryptocurrency’s cost of production dropped to just $13,000.

Source

Subscribe to get our top stories

Coin News
App StoreApp Store