Bitcoin Rally To $8,000 Smells Like Late-2017: JP Morgan Analysis

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Save for Friday’s sudden selloff, Bitcoin (BTC) has been on an absolute tear over the past few weeks. Since early-April, the asset has moved from $4,200 to a recent peak of $8,350 — effectively a gain of 100% — and is seemingly preparing itself for another leg higher.

While many believe that this move comes off the back of booming on-chain statistics and strong fundamental developments, one Wall Street firm argues that this isn’t the case.

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