Why Dogecoin, Solana, and Polygon Plunged This Week [Yahoo! Finance]
JP Morgan Chase & Co. (JPM)
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Source: Yahoo! Finance
Not only are there projections that Bitcoin could drop, but the tech market has also been falling, and that's been more correlated with crypto than with anything else. According to data provided by S&P Global Market Intelligence Dogecoin (CRYPTO: DOGE) fell as much as 17.3% this week and is down 10.3% since last Friday's close as of 1 p.m. ET. Solana (CRYPTO: SOL) also fell as much as 14.6% but is now down only 3.1%, while Polygon (CRYPTO: MATIC) dropped 16.4% at its low and is now off 9.1%. The halving debate Bitcoin drives the crypto market, there's no way to get around it. So the upcoming halving has been seen as a bullish catalyst for the industry because previous halvings have resulted in Bitcoin's price jumping. But JPMorgan said on Wednesday that Bitcoin will fall after this weekend's halving because it's in overbought conditions. Part of that may involve the billions of dollars that have flowed into Bitcoin after crypto exchange-traded funds were approved earlier this
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News
- Wells Fargo Says US Scrutinizing Zelle Complaints Behind Scenes [BNN Bloomberg (Canada)]BNN Bloomberg
- J.P. Morgan cautious on crypto with retreat by retail investors, dearth of upside drivers [Seeking Alpha]Seeking Alpha
- The Best Headwear at the Central Park Hat Lunch [The New York Times]The New York Times
- JPMorgan Chase to Present at the AllianceBernstein Strategic Decisions ConferenceBusiness Wire
- Reuters: Russian court cancels confiscation of some JPMorgan assets in dispute with Russian bank [Yahoo! Finance]Yahoo! Finance
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- JPM's page on the SEC website