According to the JPMorgan report, money is coming out of the Bitcoin futures market and would go into the Ethereum market. They also highlighted that investors perceive a considerable opportunity in this digital currency.
A recently published report by the US-based international bank, JPMorgan, points out that more and more institutional investors are now investing in Ethereum futures, which implies that Bitcoin would end up in the background.
According to the report published by JPMorgan, Bitcoin futures got listed as the chosen crypto investment assets for institutional and high-caliber investors.
This relevance appeared because these assets are items that come from regulated platforms. These platforms do not interfere in the direct manipulation of cryptocurrencies because there are many risks behind these actions.
However, the figures evaluated by analysts that Ethereum futures are registering more and more incoming capital, coinciding with the outflow of money from the other market.
According to analysts, the current panorama does not represent a good sign for Bitcoin futures. Instead, it could harm the digital currency.
The analysts sustain the theories in which the investors describe Ethereum as a vital value asset due to its significant growth in recent months.
According to the report, the general belief is that users should seize the opportunity once the cryptocurrency gains the attention of the traditional market.
Ethereum Futures Overvalued
There are high expectations for Ethereum futures, last week, an analyst at JPMorgan highlighted that the prices of the digital currency are overestimated.
A more realistic estimate should bring around USD 1,500 per unit, 55% below its current price.
The possible answer to this aspect resides in the expectations placed on Ethereum in the long term. This currency operates among the networks that host highly demanded use nowadays.
Due to the demand that Ethereum is currently registering and the expectations about the arrival of version 2.0 of the network, analysts and enthusiasts highlighted that the digital currency could reach much higher values, exceeding USD 8,000 per unit provided if the conditions are favorable.
Great expectations for Bitcoin
Although the supremacy of these cryptocurrencies in the markets is somewhat debatable, those users who still support Bitcoin have their expectations around the arrival of a fund traded on the US stock exchange (ETF) based on digital currency.
However, everything is in the hands of the US Securities and Exchange Commission (SEC), which will have the last word to pick up, of all the aspiring companies, the one that will become the launcher of the first Bitcoin ETF in the country.
Analysts and enthusiasts assure that this ETF could arrive very soon because there is a lot of pressure on the entity to approve this product.
Analysts finally estimated that the price of Bitcoin could reach a new high peak and set a new all-time high, surpassing USD 100,000 per unit if it experiences a large inflow of institutional capital through these mechanisms.
By: Jenson Nuñez
