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JpMorgan

JPMorgan Explains Why It Doesn’t Prefer Crypto Investments for Now

The Federal Reserve openly hinted at a plan to raise interest rates last week to contain strong inflation. Amid such a hawkish stance from the Fed, JPMorgan advises investors to focus on valuations and ignore the short-term direction.

JpMorgan
RELATED : Bitfury CEO: Federal Reserve Fighting Inflation Is Bad For Bitcoin

Investors should focus more on valuations and not fall for volatile investments like crypto, said David Kelly, chief global strategist at JPMorgan Asset Management. Added:

“The economy has got one foot into a recession and the other on the banana peel now. Given this backdrop, the best way to be positioned now is to look at valuations. Make sure you overweight US and international value, as well as stocks with relatively low price-to-earnings ratio”.

Sell Crypto JPMorgan Says

Value stocks will take the stage once again, according to David Kelly, global strategist at JPMorgan. At this point, he added that investors should once again move away from growth stocks. Kelly suggests that big-capital tech stocks should be avoided when advising to sell Bitcoin and crypto.

Bitcoin and the broader crypto market gained momentum from July, but the market saw a sharp pullback following the Fed comment. Kelly expects volatility to continue as he predicts a high risk of recession.

Crypto Winter

About Hama Amefiz

Amefiz is a professional blockchain, cryptocurrency and tech journalist, regular contributor to newsbsc.com who is writing analysis about the latest developments in the cryptocurrency and blockchain space.

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