Analysts at JPMorgan predict that institutional investors will back to Bitcoin market when BTC price falls below $ 30,000. At the same time, they noted that the price should fall sharply below this level, since at the moment professional traders are not interested in buying out small deeps.
They also believe that the bear market will continue for at least a few more months. As institutionalists were attracted by the upward trend in Bitcoin, the sharp rise in the first cryptocurrency at the same time pushed them away.
JPMorgan said that it is possible to see a return in demand for Bitcoin from professional traders using the contango tool (an increase in the price of futures compared to the price of the underlying asset) and an increase in Bitcoin dominance index.