Bitcoin could lose another third of its value, according to JP Morgan


Bitcoin could lose another third of its value having almost halved over past two months, according to one of world’s biggest banks










Bitcoin could lose another third of its value having almost halved over the past two months, according to one of the world’s biggest banks. 

Analysts at JPMorgan – led by Wall Street titan Jamie Dimon – believe the crypto-currency could fall as low as $23,000. 

In freefall?: Analysts at JPMorgan – led by Wall Street titan Jamie Dimon (pictured with wife Judith) – believe the crypto-currency could fall as low as $23,000

Bitcoin was trading at around $35,000 last night having peaked close to $65,000 in April. 

It fell below $29,000 earlier this week. Dimon has long been sceptical about Bitcoin and in 2017 described the crypto-currency as a ‘fraud’, adding: ‘It’s worse than tulip bulbs. It won’t end well. Someone is going to get killed.’ 

Police warned of links between cryptocurrencies and crime after Scotland Yard seized £114m of bitcoin as part of an investigation into money laundering offences. 

Deputy Assistant Commissioner Graham McNulty said: ‘Cash remains king, but as technology and online platforms develop, some are moving to more sophisticated methods of laundering their profits.’ 



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