Wall Street firm JP Morgan has predicted that HODLers should expect to experience more pain if the crypto winter persists.
According to JPMorgan analysts, the price of bitcoin could fall to as low as $1,260, Reuters reports. The same analysts have, however, estimated that bitcoin’s ‘cost support’ is at around the $2,400 level.
This sentiment is similar to that held by Chinese currency policy analysts, as CCN reported earlier this month. The analysts expect pessimism to dominate with regards to bitcoin in 2019.