Bitcoin’s slip from key $40,000 level could portend more losses, analysis shows
Cryptocurrency could be hurt by an exodus of trend-after investors unless it can ‘break out’ above $40,000 soon
18 January 2021 - 16:59
Singapore — Bitcoin retreated further from the $40,000 level on Monday, a decline that could portend more losses based on the latest analysis from strategists at JPMorgan Chase.
The cryptocurrency could be hurt by an exodus of trend-after investors unless it can “break out” above $40,000 soon, a team including Nikolaos Panigirtzoglou said. The pattern of demand for bitcoin futures and the $22.9bn Grayscale bitcoin Trust will help determine the outlook, they added...
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