JPMorgan: Bitcoin's upside potential in the second half of the year may exceed that of gold

ChainCatcher news, according to The Block, JPMorgan analysts indicate that driven by corporate purchases and increased support from various U.S. states, the price of Bitcoin may continue to rise in the second half of this year, while the price of gold may decline. Since peaking on April 22, the price of gold has dropped nearly 8%, while Bitcoin has risen 18% during the same period.

Analysts state that this shift is also evident in investor flows, with funds moving out of gold exchange-traded funds (ETFs) over the past three weeks and into spot Bitcoin and cryptocurrency funds.