Opinion summary of Bitcoin market development

2 min readJun 3, 2021

Bitcoin prices fell more than 30% in May and the market is still wondering will it recover soon, or it is yet reached the bottom? Here are some of the opinions towards how Bitcoin trend will be:

JP Morgan’s opinion

According to analysts at JPMorgan, institutional investors are shifting away from their capital from Bitcoin and there is a possibility that Bitcoin price will decline further. He insists that Bitcoin’s fair value ranges from $24,000 to $36,000.

He further explained that institutional investors seemed to wait and see due to the massive cryptocurrency currency market crash in May. But still, the analyst sees $145,000 as a long-term Bitcoin target.

2. Goldman Sachs’ Opinion

It is common to related gold and copper to inflation-related hedge function but unlike the stability of gold, copper is much more volatile and carries similarity to Bitcoin.

Goldman Sachs’ analyst said bitcoin can be an alternative to copper but no gold as both are pro-risk, risk-on assets.

3. Release of Coinbase card

Coinbase, the largest crypto exchange in the United States, has launched a card dedicated to cryptocurrency, and Bitcoin price has increased 4% after the news.

Coinbase card is available for use on Apple pay and Google pay and with the new card released, it is likely see that process of purchasing cryptocurrencies will become easier.

4. Tesla restarts to accept Bitcoin

Elon Musk, CEO of Tesla mentioned that Tesla could restart to accept Bitcoin as one of the payment methods.

More from MyTradingInfo
Visit www.mytradinginfo.com for the update and real-time data and statistics.

Nasdaq index, Gold futures, Open interest at major exchanges, there are more factors you can discover and compare the data at MyTradingInfo.com

Opinion summary of Bitcoin market development

Written by MyTradingInfo

No responses yet