A JP Morgan Chart Reveals That Bitcoin Is Acting Like Gold

  • A chart by the team at JP Morgan Chase superimposes Bitcoin’s and Gold’s ratios of realized volatilities and hints that BTC is acting a lot like the latter asset.
  • Bitcoin’s market cap and that of Gold could eventually equalize as they serve the same purpose.
  • Analysts forecast that Bitcoin could retest $20k or lower this year. Guggenheim’s Chief Investment Officier sees Bitcoin retesting $8k or lower as it has yet to prove itself as a credible institutional investment.