Crypto asset prices moved lower in trading this morning. In the future, what are the prospects for the price of bitcoin and friends?
On Thursday (10/2/2022) at 10:17 WIB, BTC 1 was equivalent to US$ 43,730.29. Bitcoin is down 1.69% from the previous day.
Meanwhile, ETH 1 is equal to US$ 3,184.8. Ether also fell 1.69%. Then XRP 1 is priced at US $ 0.862. Ether plunged 3.26%.
Yesterday, the price of these three coins rose quite sharply. This makes investors take profit taking so that the price is corrected.
In addition, there is bad news from JPMorgan. The bank from the United States (US) assesses the fair value of bitcoin at US$ 38,000/coin.
"Bitcoin's biggest challenge is high volatility. Then there is a boom and bust cycle that makes institutions still hesitant to adopt bitcoin," said Nikolaos Panigirtzoglu, analyst at JPMorgan, as quoted by Reuters.
Even though it only mentions bitcon, the JPMorgan study affects almost all crypto assets. Understandably, bitcoin is the crypto asset with the largest market cap. What happens in bitcoin can affect other crypto assets.