JPMorgan: Bitcoin may decline by over 50%

Baku. 13 February. REPORT.AZ/ The price of bitcoin" at world stock exchanges may drop by about 50% from the current level. 

Report informs citing the Vestifinance.ru, this forecast was presented in the report prepared by the US JPMorgan Bank.

The technical analysis of the bank shows that the price of bitcoin may decline to $ 4,605. Notably, at present it is sold at $ 8 500.

Notably, comments from the JPMorgan Bank chairman, president and CEO, Jamie Dimon, who last year issued his now-infamous remark that bitcoin is a "fraud." As posited by the report's authors, cryptocurrencies are "unlikely to disappear completely."

"[Cryptocurrencies] are unlikely to disappear completely and could easily survive in varying forms and shapes among players who desire greater decentralization, peer-to-peer networks and anonymity, even as the latter is under threat," they wrote.

JPMorgan is currently working on integrating block technology into its own system. In November last year, along with JPMorgan, giant banks like Goldman Sachs, BNP Paribas, Citigroup have launched pilot projects with block technology.