Bitcoin Price Will Fall to $25,000- JP Morgan Chase

• Top US bank JP Morgan Chase has warned cryptocurrency investors that the price of Bitcoin will fall to $25,000

• Despite losing more than 50% of its value since May, financial analysts in JP Morgan have told crypto enthusiast to brace up for a 25% drop

• The news of the expected drop is coming despite rising acceptance of the flagship cryptocurrency, with El Salvador making it a legal tender

It has been a rocky last two months for crypto investors, with several major assets losing up to 50% of their values.

American bank JP Morgan Chase has warned crypto investors to expect more decline in the crypto market.

Josh Younger and Veronica Mejia, analysts at the financial institution have predicted that the price of Bitcoin will fall to $25,000.

The analysts have indicated that more than $8,000 will be wiped from the value of the coin which is currently trading at $33,400.

The analysts predicted that the huge drop will b caused by crypto investors selling the coins to reduce their losses.

On the contrary other analysts have indicated that Bitcoin may have reached its price floor since it has been trading between 30k and 40k for over a month.

The recent crackdown of cryptocurrency and crypto mining in China has played a major factor in the decline of the crypto market.

However, there have been positive sentiments based on the news that El Salvador signed Bitcoin into law as its official currency.

There have also been speculations that South American country Paraguay may follow this decision in the coming months.

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