Crypto is ‘poorest hedge’ for drawdowns in equities, JPMorgan analysts say

Cointelegraph

Published Feb 19, 2021 06:34AM ET

Updated Feb 20, 2021 09:40AM ET

Analysts at American investment bank JPMorgan Chase (NYSE:JPM) have delivered another skeptical statement on Bitcoin (BTC), arguing that its current price is much higher than its fair value.

In a regular memo for investors, JPMorgan argued that cryptocurrencies like Bitcoin are an “economic side show” and the poorest hedge against a decline in equity prices, Reuters reports Friday.

Source: CoinGecko

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