By the end of the year, the first cryptocurrency may be ahead of the growth rate of gold price – thanks to the purchase of large companies and support from the authorities of some American states, JPMorgan banking holding analysts said.

Analysts explained that we are talking about the strategy for protecting capital from inflation and devaluation of fiat currencies, which became relevant for bitcoin and gold at the end of 2024. Now the strategy has turned into a game with a zero amount, when one financial instrument strengthens its position in the market due to another, bank experts say.

“From mid -February to mid -April, Dragmental grew due to bitcoin, and the opposite has been observed in the last three weeks. We expect that the game with a zero amount will last until the end of the year. Catalysts associated with digital assets will create more advantages for the first cryptocurrency, ”explained their point of view in JPMorgan.

From the moment the peak was reached on April 22, gold has fallen in price by 8%, while Bitcoin has risen 18%over the same period of time. Information about futures show a similar trend – gold positions were reduced, and open interest in bitcoin contracts increased, banking analysts noted.

As an additional factor in the strengthening of cryptocurrency positions, they called the “growing up” the derivatives market and, as an example, brought the purchase by the company Deribit Exchange Coinbase and receiving Gemini license for a proposal of derivatives in Europe.

Earlier, experts of the K33 Research said that, unlike the last jump in the first cryptocurrency course, the current cycle is not associated with risks from derivatives, which creates the basis for a long -term growth of the coin.