JPMorgan: Trump Victory Will Bring Additional Upside for Bitcoin and Gold
In a report on Wednesday, Oct. 31, analysts led by Nikolaos Panigirtzoglou, managing director at JPMorgan, said Trump's victory will further bolster Bitcoin's momentum, thanks to what they called the 'devaluation trade' among retail investors. Retail investors seem to be embracing the 'devaluation trade' in a much stronger way by buying bitcoin and gold ETFs.
The analysts also note that the retail rush is also reflected in meme and AI tokens, which are outperforming in terms of market capitalization.
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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