Skip to content
Real Cryptocurrency Hub

Real Cryptocurrency Hub

Crypto Comeback Pro is an auto trading platform that allows you to invest in the crypto market and start making money right away. Sign Up HERE

  • Home
  • Start Trading
  • English
    • English
    • Español
    • Italiano
    • Polski
    • Svenska
    • Deutsch
    • العربية
  • News
    • Mining
    • Bitcoin (BTC)
    • ATM
  • Guides
  • How To’s
  • Exchange/Wallet
  • Brokers
  • Bitcoin Price Prediction
  • ✉ Contact
  • Home
  • Bitcoin (BTC)
  • Bitcoin’s Fight with JP Morgan over Market Cap
  • Bitcoin (BTC)
  • Crypto Marketplace
  • Crypto News
  • Cryptocurrency Exchange / Crypto Wallet

Bitcoin’s Fight with JP Morgan over Market Cap

Giovanni Hernandez November 21, 2020 2 min read

After the latest price gain, Bitcoin became successful in exceeding the market capitalization of the world’s largest bank JP Morgan Chase. However, Bitcoin made a recovery but it has alarmed Wall Street investors of its shining future as a hedging instrument.

As Bitcoin claimed the figure of $18,800 over cryptocurrency exchanges, its market cap exploded and crossed the JPMorgan Chase. But on Nov.21, Bitcoin’s cap went below the bank again as the price value retreated to $18,564.

Changed Behavior

JP Morgan has a very complex and interesting relationship with the primary digital asset. When we go back to 2017, Chief Executive of the bank, Jamie Dimon, declared Bitcoin “a fraud.”

But the situation has now changed as the top cryptocurrency has got a lot of exposure across the world. JP Morgan rolled its own cryptocurrency after making a peace deal with digital assets’ space. What’s more, the US-based bank made a partnership with crypto-powered company ConsenSys.

On November 18, a contradictory statement came on the screen as Dimon said Bitcoin is “not my cup of tea” during an online summit. Some crypto members responded to it and made fun of his comment. For instance, Anthony Pompliano, co-founder of Morgan Creek Digital, said,” Someone explains to Jamie Dimon that Bitcoin doesn’t care what he thinks.”

But when the market capitalization of the world’s top digital asset overturned JP Morgan, crypto members enjoyed the moments and predicted more high levels for it. Even Wall Street personalities are inspired by the great performance of Bitcoin.

Strong Fundamental Position

Behind the exponential price gain and rising market cap, there are various fundamental factors. One factor is that people are calling Bitcoin a better hedge instrument and store of value as compared to gold. Recently, the chief investment officer of the world’s largest asset management firm, BlackRock, claims Bitcoin could replace gold. This is because the primary cryptocurrency has many features that are not present in any other asset known to the world.

At press time, Bitcoin is standing at $18,564 after a slight decrease of 0.22% over the day.

Post Views: 600

Continue Reading

Previous: Mexico’s Second Richest Person Invests 10% Of His Entire Liquid Portfolio In Bitcoin
Next: Aggressive Buying Pressure Amid Entry of PayPal and Cash App

Related Stories

Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)
  • Solana (SOL)

Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

August 6, 2022
Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)

Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

August 5, 2022
Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC
2 min read
  • Bitcoin (BTC)
  • Blockchain
  • Crypto News

Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

August 4, 2022

Read our disclaimer

Name Price24H (%)
bitcoin
Bitcoin (BTC)
$24,344.00
-0.72%
ethereum
Ethereum (ETH)
$1,943.53
-2.54%
tether
Tether (USDT)
$1.00
0.13%
usd-coin
USD Coin (USDC)
$1.00
-0.07%
binancecoin
BNB (BNB)
$319.85
-2.04%
cardano
Cardano (ADA)
$0.57
1.08%
ripple
XRP (XRP)
$0.381538
0.29%
dogecoin
Dogecoin (DOGE)
$0.080803
9.33%
polkadot
Polkadot (DOT)
$8.97
-4.71%
Uniswap
Uniswap (UNI)
$8.90
-1.92%

Recent Posts

  • JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review – a Recommended Crypto Broker

    JP Crypto Review Suppose you are interested in trading cryptocurrencies but are hesitant to do so due to
  • Alfabtc Review – A Recommended Cryptocurrency Broker

    Alfabtc Review – A Recommended Cryptocurrency Broker

     Alfabtc Review Alfabtc is a competent brokerage firm known for its fast and efficient execution of trade. The
  • Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

    Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

    Cosmos (ATOM) A look at the data for Cosmos (ATOM) shows that on Thursday, it was trading at
  • Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

    Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

    On Thursday, Hotbit made a concerning announcement for the entire customer base. The cryptocurrency exchange notified the users
  • Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

    Argo Blockchain Has Been Paying Debt To Galaxy Digital By Cashing Out BTC

    Argo Blockchain has been selling Bitcoin (BTC) that belongs to the blockchain’s holdings. The reason behind selling Bitcoin

Start Trading

Categories

Top Posts

  • Tesla Could Start Accepting Crypto Payments Very Soon

    Tesla Could Start Accepting Crypto Payments Very Soon

    Elon Musk has been a massive supporter of crypto and his love for the crypto coin known as
  • US Investors Attracting Towards Bitcoin,” Says Senator Ted Cruz

    US Investors Attracting Towards Bitcoin,” Says Senator Ted Cruz

    Taken by Sean Hannity at Fox News, Senator Ted Cruz talked about Bitcoin and said that investors are
  • Legal Framework for Cryptocurrencies Demanded by the Iranian President

    Legal Framework for Cryptocurrencies Demanded by the Iranian President

    With the passage of time, the United States of America and its allies are tightening strict sanctions around
  • Price Analysis of First Eleven (F11) and Moneyrain Finance (MONEYRAIN)

    Price Analysis of First Eleven (F11) and Moneyrain Finance (MONEYRAIN)

    The price for First Eleven (F11) has reportedly observed a significant surge in the past 24-hours. The price
  • A behind the scenes peek at EarningCrypt

    A behind the scenes peek at EarningCrypt

    Although a relatively new asset class, cryptocurrencies have become a popular trend thanks to their unique structure and

Archives

You may have missed

JP Crypto Review – a Recommended Crypto Broker
3 min read
  • Brokers
  • Reviews

JP Crypto Review – a Recommended Crypto Broker

August 12, 2022
Alfabtc Review – A Recommended Cryptocurrency Broker
3 min read
  • Brokers
  • Reviews

Alfabtc Review – A Recommended Cryptocurrency Broker

August 10, 2022
Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)
  • Solana (SOL)

Cosmos And Solana Experience Strong Gains While Cosmos Hits Highest Point Since May

August 6, 2022
Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe
2 min read
  • Crypto News
  • DeFi (Decentralized Finance)

Hotbit Explains Why It Suspended Services For Clients Without Providing Resumption Timeframe

August 5, 2022
  • Kraken
  • OrbitGTM
  • Fxoro
  • KuCoin
  • Huobi
  • Bitfinex
  • PrimeXBT
  • CTmatador
  • DXCBIT
  • PrimeHolders
  • CMC Markets
  • XCGIN
  • Virtual Payout
  • Gamma Capitals
  • Towards Soure
  • CoinsMarkets
  • ArgoTrade
  • Global Solution
  • CTProz
  • Alfabtc
  • JP Crypto
Copyright © All rights reserved. | DarkNews by AF themes.
  • bitcoinBitcoin(BTC)$24,344.00-0.72%
  • ethereumEthereum(ETH)$1,943.53-2.54%
  • tetherTether(USDT)$1.000.13%
  • usd-coinUSD Coin(USDC)$1.00-0.07%
  • binancecoinBNB(BNB)$319.85-2.04%
  • cardanoCardano(ADA)$0.571.08%
  • rippleXRP(XRP)$0.3815380.29%
  • SolanaSolana(SOL)$45.37-3.21%
  • dogecoinDogecoin(DOGE)$0.0808039.33%
  • polkadotPolkadot(DOT)$8.97-4.71%
  • UniswapUniswap(UNI)$8.90-1.92%
  • bitcoin-cashBitcoin Cash(BCH)$139.93-2.92%