JAKARTA - The price of Bitcoin is still decreasing in the last few days and has not returned to its usual level. This negative trend has raised concerns in a number of bitcoin investors.
An analyst from JPMorgan Chase & Co named Nikolaos Panigirtzoglou told Fortune about the drop in bitcoin prices on Thursday, April 22.
"Over the last few days the Bitcoin futures market has experienced the same sharp liquidity as last mid-February, mid-January or late November," said Panigirtzoglou.
He also predicts that the price of bitcoin will gradually decline. This decline is expected to occur in the coming months even though the price is still relatively high.
"The momentum signal will naturally decline gradually from here over the next few months, considering the (bitcoin) level is still high," he explained.
JPMorgan itself took the example that happened before, where a large influx of funds made the price of bitcoin pushed to its highest level and set a new price record in a short time. The peak price occurred a few days ago.
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"Whether we see a repeat of the previous one remains to be seen," said Panigirtzoglou, an analyst at JPMorgan.
He also predicts that the likelihood of going up again is still low because the gradually decreasing momentum will be difficult to reverse. This time, JPMorgan also revealed that the funds going into bitcoin in recent days also looked weak.
The all time high price of bitcoin itself occurred on April 16. At that time the price of bitcoin touched 64 thousand US dollars per coin. The next day, bitcoin price decreased gradually until today as reported by Coindesk.
On April 18, until now, bitcoin prices are still in the range of US $ 53 thousand to US $ 57 thousand. The price of bitcoin has not returned to 60 thousand US dollars as happened a few days ago.
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