$2.2 Trillion Institutional Crypto Price Prediction Reveals Bitcoin And Ethereum Could Be Poised For Recovery
The crypto market took a huge hit after the Federal Reserve’s announcement of quantitative easing, but one analyst is predicting that both bitcoin and ethereum could stage a recovery in the near future.
According to a report from investment firm JP Morgan, the two largest cryptocurrencies by market capitalization could see prices rise to $14,000 and $3,900 per coin, respectively.
This would represent a significant rebound from their current levels of around $10,000 and $200.
The report cites the recent influx of institutional investors into the crypto space as a key driver of this price growth.
With more and more big money players getting involved in crypto, JP Morgan predicts that the market could soon see a “new paradigm” of price discovery.
So far, crypto has been largely driven by retail investors, who are often more prone to emotional buying and selling.
With institutional investors coming in, there could be more stability in the market and less volatility.
JP Morgan’s report is just one of many bullish crypto predictions that have come out in recent months.
With more and more mainstream companies and financial institutions taking crypto seriously, it seems that the once-niche market is finally coming into the mainstream.
