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According to a recent JPMorgan research note, institutional investors have withdrawn about $ 20 billion of their gold investment since mid-October and during the same period, institutional inflows into Bitcoin (BTC) are up $ 7 billion.

The bank said, “Such a displacement of gold as an ‘alternative’ currency implies great long-term benefit to Bitcoin.”

JPMorgan believes Bitcoin’s declining volatility could increase adoption by institutional investors. If that happens, the value of the private investment in Bitcoin could mirror that of gold and this gives Bitcoin a long-term upward target of $ 130,000, the bank added.

Daily cryptocurrency market performance. Source: Coin360

In other news, billionaire investor Mark Cuban said his crypto wallet exists of 30% Ether (ETH) because he believes it is the closest thing to a real currency. Cuban said the rest of his crypto wallet is 60% Bitcoin and 10% other crypto investments.

CryptoQuant CEO Ki Young Ju recently marked that 400,000 Ether had left Coinbase, a sign that institutional investors may have started collecting the highest altcoin.

The increased adoption of cryptocurrencies by legacy financial institutions and investors is a positive sign, but will this news flow act like a tailwind and increase the price of the top 10 cryptocurrencies?

Let’s analyze the charts to find out.