JPMorgan is once again turning to its skeptic side, believing that the crypto market is nothing but a hoax and a bubble that will burst sooner than later. JPMorgan was very strict on its stance over the crypto world; it didn’t want anything to do with it, believed it to be a bubble that would eventually burst. But then JPMorgan did come around the idea of decentralization, trying to understand cryptocurrencies better and even going in business with some of the crypto tokens. Now once again, the previous thoughts of turmoil and deceit about the crypto market seem to have caught up with JPMorgan.
Earlier this month, JPMorgan released an investor’s note in which it was clearly stated that at the moment, the crypto market is going through some sort of investor purchase frenzy like the normal people do with the retail markets, which confirms the notion that the crypto market is nothing but a giant bubble that will explode one day or the other.
Investors are no longer interested in playing it safe with the stock market or with bonds or whatever conventional modes of investments are, they want more and more of the cryptocurrencies, and this is where the problem starts. This sudden appetite for certain something is clearly indicative of the fact that it would eventually, if not at once, turn into a bubble that will end up in serious turmoil.
Crypto Markets are Once Again in a Bubble
The housing market bubble is a clear depiction of this, everyone wanted a piece of it, and eventually, it was more or less not even worth a single dollar and came crashing down. It all seems subjective, as proposed by the data analyst team at JPMorgan. Major cryptocurrencies such as Ethereum and Bitcoin did see some backlashes in terms of price, but they also managed to recover at times, but their recovery or gain is nothing in comparison with the altcoins market and the NFT boom of popularity that is currently parading within the global financial sectors.
Investors can’t be classified into classes such as those who know it is a bubble and participating any way and those who don’t even have a clue. All of them are playing the game at the moment and not thinking about anything else; this directive supports the idea that the crypto market is going to end up being a giant bubble after all.