Bitcoin can provide more return than gold this year, price prediction of jp morgan

Crypto’s segment has increased rapidly over the years. This year has a lot of volatility at the price of this market’s most popular cryptcurrency Bitcoin this year. Behind this, American President Donald Trump is a major reason for imposing heavy tariffs on imports from many countries including China. However, Bitcoin has recovered from Trump’s indication of compromising on trade with China and has crossed the level of one million dollars again.

The American bank JP Morgan predicts that Bitcoin can give more returns compared to gold this year. JP Morgan’s analysts said, “Gold in Gold from mid -February to mid -April this year was due to bitcoin. However, the opposite has been happening for the last few weeks. The price of bitcoin has been increasing due to gold.” JP Morgan’s managing director, Nikolaos Panigirtzoglou says, “There has been an equal contest between Gold and Bitcoin this year and it can remain the same in the rest of the year. However, for the second half of this year, we are estimated to be less than that of gold.”

A few months ago, the price of bitcoin fell from a high level of about 1,10,000 to about $ 75,000. Trump’s decision to tariff was the main reason behind this. However, it has recovered since last week and is over $ 1,03,000. Recently, Trump signed the order to create a strategic reserve of this oldest cryptocurrency. The Strategic Bitcoin Reserve of the US will include bitcoins seized by the government. In the executive order on which Trump has signed, it is clear that the amount of taxpayers will not be used to purchase this most market value cryptocurrency.

Payments in Cryptocurrency are also being accepted in some countries. Bhutan has also joined the list of these countries. Recently, Bhutan announced the launch of the crypto payment system. For this, one of the large crypto exchanges has been tie-up with a binance. The objective of this decision of Bhutan is to protect tourists from complications such as currency exchange rates and low availability of international cards and provide easy ways of payments.