JP Morgan Analyst Admits Institutions are Behind the Bitcoin Bull Run

An analyst associated with the US multinational bank JP Morgan Chase has admitted that institutional investors are behind the ongoing bitcoin price boom.
Bloomberg quoted Nikolaos Panigirtzoglou saying that the market hugely understated the importance of the listed bitcoin futures contracts, mostly because of the overstating of trading volumes by cryptocurrency exchanges. But after asset management firm Bitwise clarified that almost 95 percent of the total reported volumes in the bitco