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128 shares, 341 points

Despite the general opinion of the market, banking giant JPMorgan Chase believes that Bitcoin (BTC), which has reached an all-time high, has not risen due to its Futures ETF.

ETFs are not the real reason for Bitcoin’s rise!

Company strategistdollarseries tells Bloomberg that this is worrying. The excitement around the launch of the BTC Futures ETF is not the real bullish catalyst, according to analysts. Instead, Analisdollarser says that concerns about inflation are driving the price of the biggest cryptocurrency:

The launch of BITO is unlikely to trigger a new phase of significantly fresher capital entering Bitcoin. Instead, we believe that the perception of Bitcoin as a better inflation hedge than gold is the main reason for the current uptrend that has triggered the shift from gold ETFs to Bitcoin funds since September.

BITO, the fastest ETF to reach a valuation of $1 billion in just two days, according to analystsdollars, could soon lose momentum as rival ETFs hit the market, leaving investors with “a lot of investment options”. This process was given 1 week and warnings were made for Bitcoin against the fall:

The initial excitement about BITO may fade after a week.

JPMorgan’s analysis came just after billionaire real estate tycoon Barry Sternlicht said that Western nations invested in Bitcoin and other cryptos because of concerns that they might cause inflation by printing too much money.

Bitcoin (BTC) 3% per day at the time of writing. 61,461 with 80 depreciation. It was trading at $02. It previously set a record with $66,988 on October 20.


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