JPMorgan says Bitcoin has staying power

posted 4 months ago
JP Morgan released a report about Bitcoin this week, regarding BTC price performance since early March it stated "suggests that there is little evidence of run dynamics, or even material quality tiering among cryptocurrencies, even during the throws of the crisis in March,” they wrote.

Going on to say "Finally, the coin’s market structure turned out to be more resilient than those of currencies, equities, Treasuries and gold. To measure this, the strategists looked at liquidity, or the bid-offer spread of the order book, which is directly related to volatility. When the order book thins, a given transaction could result in a larger price change, and vice versa. Though Bitcoin saw among the most severe drops in liquidity around the peak of the crisis, that disruption unwound itself much faster than other asset classes."
Tags: bitcoin, news, opinion