Is Bitcoin $40,000 In The Cards? | Here’s What You Need To Know


Bitcoin won’t break through $ 40,000 due to weak institutional demand

  • Interest in bitcoin is waning, JPMorgan says

  • Falling cash flow at Grayscale signals correction

  • The society expects the preservation of the exchange rate at the level of $ 25,000 – $ 50,000

International consortium of news organizations, developing transparency standards.

Bitcoin price is unlikely to be able to overcome the $ 40 thousand mark.

Bitcoin won't break through $ 40,000 due to ...

due to insufficient purchasing pressure from institutions

Bitcoin loses the strength needed to overcome the key psychological mark of $ 40 thousand.

Bitcoin won't break through $ 40,000 due to ...

Bloomberg reports this with reference to JPMorgan analysts.

Join our telegram channel to be in course on the main trends in the crypto market.

According to experts, the flow of money into the bitcoin trust Grayscale Bitcoin Trust (GBTC) may have reached its climax.

“Now the influx of institutional money into the Grayscale Bitcoin Trust is not strong enough for bitcoin to overcome $ 40 thousand,” experts said..

The bank is of the opinion that traders adhering to impulse strategies will continue to exit bitcoin futures positions, which will negatively affect the price of cryptocurrency.

Decrease course

JPMorgan experts talked about the dependence of the Bitcoin rally on the flow of money into GBTC earlier. Then JPMorgan said that the reduction in investment in GBTC will be a signal for the correction of the leading cryptocurrency.

Learn how to trade on cryptocurrency market together with partner BeInCrypto – cryptocurrency exchange StormGain

Assets of GBTC. Source:

It is worth noting, however, that this is not the first time that the inflow of institutional funds to GBTC has been declining. Previously, however, bitcoin did not experience such large drawdowns in price. Over the past couple of weeks, the first cryptocurrency sank by more than 15%.

Individual interests

JPMorgan experts have long been largely skeptical about Bitcoin. So, for example, the bank doubts that Bitcoin is able to hedge risks.

Bitcoin won't break through $ 40,000 due to ...

According to JPMorgan, due to large drawdowns and high correlation with cyclical assets, Bitcoin depends on the economic situation.

Meanwhile, according to a survey by Bitwise Asset Management, more than 30% of respondents stated that the price of bitcoin remained in the region of $ 25,000 – $ 50,000. Much less (1%) believe that the cryptocurrency will collapse to $ 7,000 – $ 10,000.

Bitcoin price BTC / USDT on moment of writing is $ 33,337. The cryptocurrency is still trying to stay above the $ 30 thousand level, although it has already tried to break through this minimum several times. Read about what awaits cryptocurrency in 2021 in a special material from BeInCrypto.

What do you think? Share with us with your thoughts in the comments and join the discussion in our Telegram channel.


All information, contained on our website, published on principles of good faith and objectivity, and for informational purposes only. The reader bears himself complete responsibility for any actions, committed by him on the basis of information, obtained from our website.

Share Article

By admin