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[이데일리 이준기 기자] “If we fail to re-break the 40,000 dollar mark each, bitcoin prices could fall further.”
According to major foreign media such as Bloomberg News on the 18th (local time), JPMorgan, a global investment bank (IB) headquartered in New York, USA, raised such concerns through an investor memo on the 15th. According to JPMorgan’s analysis, if the price is not at a certain level due to the nature of cryptocurrency, investors following the trend will drop out, and the price adjustment atmosphere will naturally continue until the end of March.
Bitcoin, which has been on the rise since last year, peaked at 42,000 dollars (about 46.4 million won) on the 8th, but it fell shortly and remains at the current 35,000 dollars (about 38.8 million won).
“The flow of funds from Grayscale, the world’s largest cryptocurrency manager, will give us a clue about the future bitcoin price forecast,” said Nicholas Faniger Choglow, a strategist at JPMorgan. It is similar to the situation, but at the time, thanks to the inflow of institutional investor funds into grayscale, Bitcoin was able to continue the upward trend.” This means that whether or not institutional investors are investing funds can influence the price flow of Bitcoin.
The biggest problem facing cryptocurrencies such as Bitcoin is the possibility of’regulatory intervention’ by governments.
In a report on the 14th, UBS Global Asset Management pointed out that “virtual currency prices could plummet” if central banks in each country launch more complete digital cryptocurrencies or if investors’ sentiment changes due to regulatory intervention. Furthermore, UBS Global Asset Management predicted that the virtual currency price could ultimately drop to’zero’ (0). In this regard, Bloomberg wrote that “virtual currency prices may soar in the short term, but in the long run, they may face the risk of regulatory intervention in light of the UK government’s decision to ban the sale of cryptocurrency derivatives to individual investors.” .