Bitcoin's 'Uptober' Upswing Will Resume Soon: JPMorgan
Portfolio Pulse from Ivan Crnogatić
JPMorgan analysts predict a positive October for Bitcoin, citing historical trends and potential catalysts like options trading on spot Bitcoin ETFs. Ethereum's upcoming upgrade is seen as a structural improvement. The crypto market remains sensitive to macro factors.
October 07, 2024 | 6:49 pm
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NEUTRAL IMPACT
Ethereum's upcoming 'Pectra' upgrade is considered transformational for its functionality but not an immediate price catalyst, according to JPMorgan analysts.
While the 'Pectra' upgrade is significant for Ethereum's functionality, it is not expected to immediately impact its price. The focus remains on structural improvements.
CONFIDENCE 85
IMPORTANCE 50
RELEVANCE 60
POSITIVE IMPACT
JPMorgan analysts suggest a positive October for Bitcoin due to historical trends and potential catalysts like options trading on spot Bitcoin ETFs. However, the market remains sensitive to macroeconomic factors.
The historical 'Uptober' trend and the introduction of options trading on spot Bitcoin ETFs are seen as potential positive catalysts for Bitcoin. However, the market's sensitivity to macro factors suggests a cautious approach.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80