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Institutions have been content to remain on the crypto sidelines despite the huge bull market of 2020 and 2021.
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According to JPMorgan's senior investment strategist, this is the argument that suggests that there is no interest from such investors in the asset class.
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The cryptocurrency market's most famous bull run began at the end of 2020.
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It lasted about one year and saw prices rise to new heights.
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Bitcoin became a trillion-dollar asset in that period, going from a low $10,000 price to $69,000.
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Multiple reports were made during this cycle that large institutional investors and individual investors are joining the bandwagon.
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Jared Gross, JPM's senior investment analyst, believes this interest has disappeared or never existed.
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He blamed it all on the increased volatility.
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He also argued that institutions are relieved to have missed last year's rally due to everything that happened in 2022 and the huge price drops.