JPMorgan: Trump's victory will provide additional upside for Bitcoin and gold prices

2024-10-31 18:47:12

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ChainCatcher news, JPMorgan analysts predict that Donald Trump's victory will further boost Bitcoin's momentum, thanks to what they call "devaluation trades" among retail investors.

The analysts wrote, "Retail investors seem to be embracing 'devaluation trades' in a more pronounced way, as they purchase Bitcoin and gold ETFs. The impulse of retail investors is also reflected in meme and AI tokens, which have performed exceptionally well in terms of market capitalization."

The analysts noted that there has been a sustained inflow of funds into gold ETFs, likely driven by retail investors, while institutional participation in gold futures has also paused. Overall, if Trump wins, retail investors are likely to not only buy risk assets but also further embrace "devaluation trades," suggesting that Bitcoin and gold prices could have additional upside potential in the event of a Trump victory.

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