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JPMorgan analyst: Trump's victory will bring additional room for Bitcoin and gold prices to rise

JPMorgan analyst: Trump's victory will bring additional room for Bitcoin and gold prices to rise

CointimeCointime2024/10/31 10:55
By:Cointime

On October 31st, according to The Block, analysts at JPMorgan Chase stated that if Trump wins the US presidential election, it may further drive up demand and prices for Bitcoin and gold. The JPMorgan Chase team pointed out that retail investors are actively participating in so-called "currency devaluation trades", increasing investment in Bitcoin and gold ETFs to hedge against the risk of currency devaluation.

Analysis shows that the net inflow of Bitcoin spot ETFs in the past two days has reached $1.3 billion, bringing the total inflow in October to $4.4 billion, the third-highest in history. Meanwhile, institutional investors' activity in Bitcoin futures has slowed down recently, and analysts believe that there may be a certain risk of correction in the Bitcoin futures market. In addition, the inflow of funds into gold ETFs is also mainly driven by retail investors. Analysts conclude that if Trump's victory can further stimulate retail investors to enter the Bitcoin and gold markets, these assets may have more room for growth.

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Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

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