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JP Morgan states that cryptocurrencies are here to stay. Cryptocurrencies are here to stay. This is an internal report from the company.
According to JP Morgan, cryptocurrencies would continue to face such volatility. Moreover, the ecosystem would move around the blockchain technology over a long period of time and the loopholes of the blockchain technology would be filled up.
This is in contrast with the public opinions of the company related to cryptocurrency. Various executives including the CEO of the company have stated that they believe the cryptocurrencies are actually fraud. However, the internal report holds an entirely different opinion.
Cryptocurrencies would not disappear anywhere
According to the report, cryptocurrencies would not disappear anywhere. Investing in it for decentralization. Moreover, it would continue to evolve with the help of peer networks and the anonymous nature of the cryptocurrencies.
JP Morgan is acting against most of the cryptocurrencies. Previously, it banned the use of its credit cards to buy cryptocurrencies. This is the reason why the interim report of the company is directly different to the public opinion of the company.
In two ways of course in order to support cryptocurrencies.
Cryptocurrencies owing to the increased volatility. It remains to be seen when the next starts up, the faith of the investors comes back or if the investors stay away from the cryptocurrencies. With billion dollar, most of the cryptocurrencies are too large to fail. They are here to stay.
Cryptocurrencies over a longer of time. Cryptocurrencies. This is the reason why they are not liquidating. The cryptocurrencies fall. Supports at the lower levels. It remains to be seen as strong as the next uptrend is, whenever it starts.
