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The investment analyst noted that Bitcoin is consolidating near $60,000 in the same way it traded near $20,000 between mid-November and mid-December 2020.

Banking giant JPMorgan noted in its report that the precious metal’s derailment boosted inflows into the Bitcoin market.

The global payment service behemoth announced that it would offer users the option to buy, sell, and store bitcoin in their PayPal-backed wallets.

Therefore, not just technicals, the fundamentals catalysts that pushed the bitcoin prices up by more than 1,500 percent from their mid-March nadir last year are the same.

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