Bears Beware! Bitcoin Price Will Reach Record Highs This Year: Fmr. JPMorgan Trader

The bitcoin price entered another bearish trend this week after failing to pierce $10,000 earlier in the month. The flagship cryptocurrency now sits more than 58 percent below the all-time high it set in December, but one former JPMorgan trader remains confident that it will trade above $20,000 before the year is out.

Danny Masters, who now serves as chairman of investment firm CoinShares, told CNBC that, despite last year’s parabolic run-up, the cryptocurrency is still largely bereft of the tools that institutional investors need to operate effectively in the nascent markets.
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