Summary:
- A chart by the team at JP Morgan Chase superimposes Bitcoin’s and Gold’s ratios of realized volatilities and hints that BTC is acting a lot like the latter asset.
- Bitcoin’s market cap and that of Gold could eventually equalize as they serve the same purpose.
- But Bitcoin’s volatility hinders its market cap from growing to the level of Gold.
- Analysts forecast that Bitcoin could retest $20k or lower this year.
- Guggenheim’s Chief Investment Officier sees Bitcoin retesting…
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