Odaily Planet Daily News reports that JPMorgan Chase states that after strong performance and increased volatility of gold, Bitcoin’s long-term appeal relative to gold has improved. Although recent cryptocurrency prices have weakened, the scale of liquidations is not large, but the outflow of funds from spot Bitcoin ETFs continues. JPMorgan Chase points out that Bitcoin’s current trading price is well below its estimated production cost of $87,000, which has historically been a relatively low bottom.
JPMorgan Chase’s key point: The risk-adjusted value of Bitcoin relative to gold has strengthened, and its volatility relative to gold has fallen to a historic low, indicating that in the long term, Bitcoin has significant upside potential.
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