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(Bloomberg) — Wall Street strategists face an almost impossible task in trying to analyze the outlook for Bitcoin and other tokens after a volatile rout. Even so, they are still trying, and some see the risk of more trouble ahead.
At JPMorgan Chase & Co., a team led by Nikolaos Panigirtzoglou reckons it’s premature to call the end of the Bitcoin selloff. Meanwhile, in a wide-ranging report, Goldman Sachs Group Inc. signaled that extreme swings hamper crypto’s appeal for institutional investors. And Medley Global Advisors LLC warned of the threat of spillovers if Bitcoin drops well below $20,000.
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