DTAP Capital’s founder Dan Tapiero thinks JPMorgan’s recent announcements about US stocks will have a positive impact on cryptocurrencies.
According to the assets under management, the largest American bank predicted that the shares could increase by 47% in its note dated June 12.
Investments May Shift to Bitcoin (BTC) and Gold
The US Federal Reserve said that the 49% peak in 2018 could be seen again, as it cuts interest rates to almost zero (and plans to keep this level until 2022) while injecting plenty of liquidity into the market.
Wow, Super Bold!
JPM calling for a 47% equity rally from HERE. Don't think I can ever recall such a daring call from them.
If more people believed, would be contrarian.
Those mkts still too small to absorb. pic.twitter.com/EMzVKidmgR
— Dan Tapiero (@DTAPCAP) June 18, 2020
Tapiero predicts that this can be seen as an opposite signal by investors and expects a lot of cash to flow into gold and Bitcoin.
In March, Tapiero stated that the arrival of negative rates to the US was a “super rise” for the leading cryptocurrency.