Article content
(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.
We apologize, but this video has failed to load.
MONEYWEB
app instead?
Wall Street aims to make sense of confounding bitcoin swings
The largest cryptocurrency rebounded on Monday, climbing 9% to $36 800 as of 8:42 a.m. in London.
By Joanna Ossinger, Bloomberg
24 May 2021 10:06
Image: Andrey Rudakov/Bloomberg
Wall Street strategists face an almost impossible task in trying to analyse 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 itâs premature to call the end of the Bitcoin selloff. Meanwhile, in a wide-ranging report, Goldman Sachs Group Inc. signaled that extreme swings hamper cryptoâs appeal for institutional investors. And Medley Global Advisors LLC warned of the threat of spillovers if Bitcoin drops well below $20 000.
Spend a few minutes in reddit forums or on Twitter or TikTok or wherever you find your early crypto believers and you’ll quickly get the sense that they.
Share:
The soaring valuations handed out to newly public companies in the initial public offering boom has led some to believe there s an IPO bubble. One part of this potential bubble is the rise in special purpose acquisition companies or SPACs.
More than half of the IPOs in 2020 were done through SPACs, which are blank check companies created to merge with another firm, taking it public in the process. So is the current market sustainable, or is there indeed a bubble that will pop at some point?
Many hedge funds have written about the SPAC tend in their recent letters to investors, but most of them are bullish. Sabrepoint has taken a contrarian view, as portfolio manager George Baxter believes there is a bubble. He said in the fund s fourth-quarter letter that they re finding many short opportunities in SPACs.