JPMorgan sees limited downside risk for crypto markets in the near term.
Bitcoin remains stuck in an environment of low liquidity, thin trading volumes and few, if any, catalysts to take it higher. After the recent correction, however, most downside risk is behind us, according to JPMorgan. Late last Thursday the price of bitcoin dropped as much as 9% , briefly dropping below $26,000, following weeks of sluggishness that were expected to eventually end with upward volatility.
" "An appeal by the SEC could result in a trial with the outcome not expected until next year, inducing a new round of legal uncertainty for crypto markets and making them sensitive to any mid-process news," he added, referencing the SEC appealing against a district court's decision in its case against Ripple.
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