Following the worst May for Bitcoin’s (BTC) price in the past 10 years, the largest cryptocurrency is likely to continue falling in the short term, according to JPMorgan analysts. Weakened institutional demand is likely to drag the Bitcoin price below $30,000, JPMorgan strategist and Bitcoin expert Nikolaos Panigirtzoglou wrote in the latest research note to clients. Based on Bitcoin’s volatility ratios to gold, the JPMorgan analyst forecasted that Bitcoin will continue to trade between $24,000 and $36,000 in the mid-term. “The fair value for bitcoin based on a volatility ratio of Bitcoin to gold of around x4 would be 1/4th …

Ireland’s central bank director general for financial conduct is the latest official to point out issues of Bitcoin (BTC) and the cryptocurrency industry following a major market sell-off. The growing popularity of cryptocurrencies like Bitcoin is “of great concern,” the Central Bank of Ireland’s Derville Rowland warned recently. “Crypto assets are quite a speculative, unregulated investment,” and investors should be “really aware they could lose the whole of that investment.” Rowland stated after crypto markets shed nearly $1 trillion in a matter of days in one of the biggest historic crypto sell-offs. Rowland’s perspective on crypto is set to contribute …

What does a highly volatile asset class offer traders, beyond palpitations and the occasional heart attack? Opportunity. Nicole Wirick of Prosperity Wealth Strategies in Michigan summed it up for Forbes: “Market volatility is a normal part of investing and is to be expected in a portfolio. If markets went straight up, then investing would be easy and we’d all be rich.” And during the decade-long bull market on Wall Street, some participants who should know better appear to have forgotten this, as they’ve become used to steadily-increasing stock prices over a period of years. JPMorgan Chase CEO Jamie Dimon, who …

Crypto traders will take any edge they can get. From fundamental research on long-term prospects to short-term price pumps created by new exchange listings, the 24/7 digital asset market provides opportunities for investors and traders of all stripes. But this week, those traders who incorporate the Cointelegraph Markets Pro VORTECS™ Score into their research had a special reason to celebrate the inherent volatility that makes risk-averse traders cringe… and seasoned crypto pros pop champagne corks. LPT, the Ethereum-based native token of decentralized video streaming network Livepeer, has seen some extraordinary ups and downs over the last three months. Valued at …

Haruhiko Kuroda, governor of the Bank of Japan, has joined the roll call of central bankers taking aim at Bitcoin (BTC) amid the current volatility. According to a report by Bloomberg on Friday, Kuroda argued against the value proposition of the largest cryptocurrency by market capitalization, stating: “Most of the trading is speculative and volatility is extraordinarily high. It’s barely used as a means of settlement.” The BOJ governor’s criticism comes as Bitcoin experienced an over 50% drawdown from its $64,000 all-time-high price milestone achieved back in mid-April. Indeed, several central bankers have taken Bitcoin’s current price wobble as an …

The current cryptocurrency market scenario is only for traders who have an extremely high appetite for risks. But for the faint of heart, analysts advise patience and caution ahead. The outlook stands tall for Bitcoin (BTC) and Ether (ETH), the top cryptocurrencies by market capitalization that more or less behave as locomotives for the rest of the crypto market. As of Wednesday, the ETH/USD Realized Volatility on a 30-day timeframe has reached near its 2017 peak levels, according to data provided by Skew. Meanwhile, Bybt.com shows Bitcoin’s 30-day volatility at its yearly high, suggesting that the benchmark asset remains at …

In the aftermath of the Mid-May crypto market sell-off, gold has seen significant price recovery. Gold prices continued to inch higher on Tuesday, hitting $1,887 per ounce at 3:00 am EDT, according to data from TradingView. Last week, gold reached its highest price level since Jan. 8 at $1,889, marking a four-month high after gold prices dipped to $1,681 in early March. At the time of writing, spot gold is trading at $1,882, up around 0.1% over the past 24 hours. The accelerated growth of the gold market came along with a major downturn in cryptocurrency markets that started on …

Wall Street megabank Goldman Sachs has initiated coverage of United States cryptocurrency exchange Coinbase with a buy rating following a major crash on crypto markets. In a note to clients on Monday, Goldman Sachs analyst Will Nance stated that Coinbase stock is the best way for investors to gain exposure to the crypto industry, CNBC reported. According to the report, shares of crypto companies like Coinbase should be regarded as a hedge against the parabolic volatility of cryptocurrencies like Bitcoin (BTC). “While we believe the core business today offers an attractive growth profile with the potential to drive new high …

Following a major cryptocurrency sell-off, Canada’s central bank stated that digital assets like Bitcoin (BTC) remain a highly risky asset despite their adoption by institutional investors. The Bank of Canada issued on Thursday its financial system review, an annual report outlining the most important financial risks and economic vulnerabilities. As part of the review, the central bank paid specific attention to cryptocurrencies, stating that crypto volatility is an emerging vulnerability to Canada’s financial system: “Price volatility stemming from speculative demand remains an important obstacle to the wide acceptance of crypto assets as a means of payment. Despite the broadening institutional …

Bitcoin’s price volatility is once again the subject of criticism from bankers as analysts from Société Générale take aim at the premier cryptocurrency. In an investor note quoted by CNBC, analysts at the bank argued that Bitcoin’s (BTC) “erratic price movements” devalued its place in investment portfolios. According to the investor note, the looming threat of government crackdowns across the globe puts significant downside pressure on future Bitcoin price action. Indeed, the recent BTC price plunge has also coincided with several negative regulatory moves from government agencies across the world. As previously reported by Cointelegraph, the United States Treasury is …

Both Atlanta Federal Reserve President Raphael Bostic and St. Louis Federal Reserve President James Bullard seem to be unconcerned about the recent crypto bloodbath’s impact on the U.S. economy. According to a Reuters report, Bostic said the volatility in the crypto market is “not at a scale” to have systemic financial implications for the Fed. He added that such events like the one this morning — which saw the price of Bitcoin (BTC) dip to $30,000 — did not play a large role in how he considered Fed policy. However, he predicted “a fair amount” of volatility through the summer. …

The price of Bitcoin and many cryptocurrencies may have taken a double-digit percentage drop in the last 24 hours, but some crypto experts still seem to be cautiously optimistic about the market as a whole. In an interview on CNBC’s Squawk Box on Wednesday, Galaxy Digital founder Mike Novogratz said that it was “going to take a while” for crypto markets to consolidate and find a bottom as the price of Bitcoin (BTC) dipped to $30,000 earlier in the day. Novogratz’s comments came when the price of the crypto asset was roughly $38,000, having been more than $42,000 at the …