Bitcoin is losing value: JPMorgan considers the previous increase to be outdated and warns of risks.

Bitcoin has lost value in recent days and is now well below its 18-month high of $38,000. According to JPMorgan analyst Nikolaos Panigirtzoglou, the previous rally may have been overdone and was mainly driven by expectations that the US Securities and Exchange Commission (SEC) could soon approve a Bitcoin spot ETF, which JPMorgan believes is unlikely. Additionally, Panigirtzoglou doubts an imminent relaxation of regulation in the crypto industry and is skeptical about the impact of the upcoming Bitcoin halving.

JPMorgan analysts emphasize in their analysis that the forces that triggered Bitcoin's recent bear market remain in place. The crypto winter began with the collapse of the Terra stablecoin network and reached its lowest point with the bankruptcy of the crypto exchange FTX. These events, along with regulatory uncertainty, muted institutional interest, a shrinking stablecoin market and reduced venture capital funding, limit the upside potential of crypto markets.

According to a report by www.wallstreet-online.de,

Based on the information from the article, JPMorgan's recent statements may have a negative impact on the crypto market. The warnings of a possible crypto winter and the assessment that the upside potential of crypto markets is limited could lead to a decline in confidence in cryptocurrencies. This could lead to falling prices for Bitcoin and other cryptocurrencies as well as reduced demand from institutional investors.

The current price of Bitcoin against the US dollar is already showing a minus of -0.05%, which could be due to the uncertainty and warnings from JPMorgan.

Overall, JPMorgan's statements suggest that potential investors and market participants should be cautious and prepare for possible turmoil in the crypto market.