Market Wrap: Ether Jumps to All-Time High as Bitcoin Stalls Despite JPMorgan’s $130K Call – CoinDesk – CoinDesk

Market Wrap: Ether Jumps to All-Time High as Bitcoin Stalls Despite JPMorgan’s $130K Call – CoinDesk – CoinDesk

  • Bitcoin (BTC) trading around $58,930 as of 20:15 UTC (4:15 p.m. ET). Up 0.3% since 0:00 UTC. Flat over the previous 24 hours.
  • Bitcoin’s 24-hour range: $58,491-$60,102 (CoinDesk pricing)

Bitcoin was little changed, after briefly pushing above $60,000 earlier Friday but quickly finding selling pressure that brought the largest cryptocurrency’s price back down to about $58,900 as of press time.

“This could be an interesting weekend for bitcoin as much of the institutional money is expected to be dormant,” said Edward Moya, senior market analyst for the foreign-exchange broker Oanda. “Weekend volatility has been somewhat of a story this year, so many crypto watchers will look to see if any whales try to take advantage of illiquid conditions.”  

Though bitcoin has roughly doubled in price this year, the gains have stalled around $60,000, despite continuing signs of growing mainstream adoption, including lofty price predictions from Wall Street firms including JPMorgan Chase, the largest U.S. bank, and the brokerage firm BTIG.

JPMorgan issued a note Thursday arguing that bitcoin could fetch
Source…