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JPMorgan Chase (JPM) said in a research note last week that any short-term rally in the cryptocurrency market is likely to be tactical rather than the start of a new longer-term bullish trend, according to CoinDesk.That's because Bitcoin's price is currently too high relative to its $43,000 cost of production and also too high relative to its volatility-adjusted gold comparison price of $53,000. At press time, Bitcoin was trading at around $67,220.
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