While Bitcoin may be showing signs of recovery after plunging from $57,000 to nearly $30,000, strategists at JPMorgan have forecasted that the price of the digital asset may still drop further in the short term. Panigirtzoglou and his team predict that Bitcoin could drop to $24,000 in the mid-term. They explained in a note to clients that:
As reported by BTC PEERS, Ethereum products recorded significant institutional inflows last week, while Bitcoin products saw a slight capital outflow. This suggests that investors may be temporarily shifting funds from Bitcoin to Ethereum.
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Source: Cryptocurrency - investing.com
