Main navigation

JPMorgan Predicts Massive Stock Market Rally, and This Could Be Bullish for Bitcoin

News
Thu, 06/18/2020 - 19:38
article image
Alex Dovbnya
JPMorgan’s super bullish call on equities is also good news for Bitcoin, says DTAP Capital founder Dan Tapiero
JPMorgan Predicts Massive Stock Market Rally, and This Could Be Bullish for Bitcoin
Cover image via stock.adobe.com
Read U.TODAY on
Google News

Dan Tapiero, the founder of DTAP Capital, assumes that JPMorgan’s uber-bullish call on U.S. equities could also positively affect cryptocurrencies, in a recent tweet

Tapiero
image by .@DTAPCAP

The largest American bank by assets under management predicted that stocks could rally 47 percent in its June 12 note.   

Because of the U.S. Federal Reserve cutting interest rates to nearly zero (and intending to keep them at this level until 2022) while injecting plenty of liquidity into the market, JPMorgan expects the equality allocation to the peak level of 2018 of 49 percent. 
card

Tapiero predicts that this might be viewed as a contrarian signal by investors, and expects some excess cash to flow into gold and Bitcoin. 

Back in March, Tapiero opined that the arrival of negative rates in the U.S. was ‘super bullish’ for the leading cryptocurrency.

article image
About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at alex.dovbnya@u.today.