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JPMorgan: Bitcoin (BTC) Price May Correct If Inflows into Grayscale Bitcoin Fund Slow Down
Dec 21 2020 · 14:34 UTC by Benjamin Godfrey · 3 min read
Photo: Depositphotos
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The Bitcoin price correction witnessed in the second half of 2019 may be seen in the coming weeks if there is a major slowdown in the inflows recorded by the Grayscale Bitcoin Trust.
Bitcoin (BTC) saw the best of its days in the past week since it made its emergence back in 2009 as it recorded an all-time high above $24,000. Analysts from JPMorgan Chase & Co (NYSE: JPM) as reported by Bloomberg have attributed much of this BTC price increase to the growth of large hedge funds specifically the Grayscale Bitcoin Trust, the decline of which may have a corresponding impact on the price of Bitcoin.