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JPMorgan Chase Strategist: Bitcoin's Market Cap Ratio Can Determine Whether The Bear Market Is Over
Summary: In an interview with CNBC on Tuesday, Nikolaos Panigirtzoglou, global market strategist at JPMorgan Chase, believes that for those who want to know when the current bear market will end, Bitcoin's dominance is a trend indicator worth paying attention to. He stated that Bitcoin's Market cap ratio suddenly dropped from 61% in April to 40%. ...
In an interview with CNBC on Tuesday, Nikolaos Panigirtzoglou, global market strategist at JPMorgan Chase, believes that for those who want to know when the current bear market will end, Bitcoin's dominance is a trend indicator worth paying attention to.
He stated that Bitcoin's Market cap ratio suddenly dropped from 61% in April to 40%. It would be healthy for Bitcoin's dominance to rise to more than 50%. He said: "I think this is another indicator to observe whether the bear market phase is over."
By Mary Liu
Tags: Bitcoin,JPMorgan Chase,Nikolaos Panigirtzoglou
Link: JPMorgan Chase Strategist: Bitcoin's Market Cap Ratio Can Determine Whether The Bear Market Is Over [Copy]
