ChainCatcher reports that, according to CoinDesk, JPMorgan analysts are optimistic about the cryptocurrency market in their latest report, despite a significant market correction. The analysts believe that institutional capital inflows and regulatory clarity will support the next rally in the digital asset market.
The report states that the production cost of Bitcoin has fallen to approximately $77,000, although the current trading price is around $66,300, below this level. The bank believes this dynamic will eventually correct itself. Additionally, Bitcoin’s relative attractiveness compared to gold has increased, as gold has recently outperformed Bitcoin, but its volatility has risen significantly. JPMorgan expects that further U.S. cryptocurrency legislation, such as the Clarify Act, will provide the necessary clarity for institutional participation, thereby driving market recovery.
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