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Bitcoin is ‘overbought’ however will suck cash out of gold By Cointelegraph

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JPMorgan: Bitcoin is ‘overbought’ however will suck cash out of gold

Institutional traders could also be all that’s pushing up the worth of (BTC), a brand new report from JPMorgan Chase (NYSE:) claims.

In feedback on Dec. 18 quoted by Bloomberg, strategists led by Nikolaos Panigirtzoglou added to latest forecasts concerning the function of establishments in Bitcoin’s future.

Gold vs. day by day chart. Supply: Tradingview
Bitcoin correlation vs. USD, Gold, , S&P500. Supply: Digital Property Information