JP Morgan Chase: Inflation is driving the price of Bitcoin

JP Morgan Chase: Inflation is driving the price of Bitcoin

2021/10/25

According to reports, JPMorgan Chase published a research report last week,Explain that inflation has been pushing the price of Bitcoin to historical highs,Rather than the hype surrounding the first Bitcoin futures exchange traded fund (ETF) in the United States.The company noted that investors are withdrawing from the gold ETF and entering the Bitcoin fund, and pointed out: "The flow of traffic is still intact, supporting Bitcoin's bullish outlook until the end of the year."JP Morgan analysts believe that, on its own, the launch of BITO is unlikely to trigger a new phase, that is, significantly more fresh capital enters Bitcoin.On the contrary, Bitcoin is considered to be a better inflation hedge than gold and is the main reason for the current rise, triggering the shift from a gold ETF to a Bitcoin fund since September.

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