JPMorgan

JPMorgan Flip-Flops Again, Says Bitcoin May Hit $100,000 "But Such Price Levels Would Be Unsustainable"

Back at the start of November, JPMorgan quant NIck Panigirtzoglou – perhaps tasked with being the skeptic in-house bitcoin strategist – predicted that based on position indicators and technicals, “bitcoin’s overbought positions by momentum traders such as CTAs could trigger profit taking or mean reversion flows over the near term.” Bitcoin, which was then trading…

Bitcoin At $650,000? One Stunning Chart, And Why JPMorgan Thinks Nothing Can Stop It Now

In what is JPMorgan’s last Flows and Liquidity report for the year, quant Nikolaos Panigirtzoglou writes that with the year coming to a close, it is useful to look at how the investment landscape changed during 2020, or said otherwise, “how have different asset classes and types of investors fared in terms of overall growth…

JPMorgan Doubles Down On Bitcoin: Sees Structural Gold-To-Crypto Flow Over Coming Years

Having admitted it was wrong about the end of the Bitcoin Bull run, JPMorgan is doubling down on its bullish crypto bet, warning that the rise of cryptocurrencies in mainstream finance is coming at the expense of gold. Gold outflows have been steady as crypto inflows and prices have soared… However, it’s not all unicorns…

JPMorgan Warns Crowded Trades And Euphoric Consensus Are The Biggest Threats For Markets

Last month, during our 13-F postmortem, we showed that just as hedge funds had gone all-in stocks, or rather a handful of momentum stocks, resulting in record gross and net hedge fund leverage… … which also meant a record drop in S&P short interest as any remaining bears have been ritualistically slaughtered in the last…

JPMorgan Admits It Was Wrong About End Of Bitcoin Bull Run, Renews $140,000-Plus Price Forecast

At the time of this writing, the cryptocurrency known as Bitcoin has seen its value skyrocket to around $19,000  after dropping down to around just $4,840 in mid-March. This is significant because the all-time high for the cryptocurrency is $19,783 back in December of 2017, only to drop down to as low as $3,122. Within the past…

Here Comes The Double Dip: JPMorgan Forecasts Negative GDP Next Quarter

In retrospect, it was inevitable: after European growth hit a brick wall in October and early November after a second round of partial (or full) lockdowns were imposed, with even the ECB warning that Q4 GDP may turn negative after the record rebound in Q3, it was only a matter of time before the US…

JPMorgan Finds No Benefits From COVID Lockdowns

While the latest vaccine progress news out of Pfizer was welcome by the market (and its CEO who sold over 60% of his PFE stock on the day of the announcement) in a week where global infection resurgence continued with cases jumping 8% W/W last week (537k vs. 309k in Aug-Oct) and EU/ UK re-imposed…

In Moment Of Brutal Honesty, JPMorgan Says Economic Disaster And More Lockdowns Will Be Great For Stocks

After reading months of ridiculously goalseeked Wall Street commentary, where first a Trump victory was the best outcome for stocks (at a time when Trump was seen as a favorite to win), then a Biden victory becoming the best-case outcome for risk assets (this predictably emerged around the time Biden took a lead in the…

JPMorgan CEO gets all the money in the ‘most corrupt scheme ever,’

 … amid Covid-19 misery – RT’s Keiser Report The US’ biggest bank, JPMorgan Chase, together with other lenders, managed to take a big slice of the coronavirus relief program pie through fees, while reporting record quarterly profits. Max Keiser and Stacy Herbert discuss how the banks managed to get such a large cut of the…