With the crypto market recovering from a dramatic and sharp sell-off, despite the Bitcoin price warning by JPMorgan, Bitcoin and cryptocurrency prices have jumped alarmingly. Bitcoin’s price has fallen from $50,000 per Bitcoin at the start of 2022 to fall as low as $30,000 in January before it reclaimed its ground. Traders have become concerned about Ethereum and its rivals Solana, BNB, Cardano, and Ripple’s XRP having suffered significant ‘volatility.’ However, some traders remain optimistic about the recovery of the crypto market. The escalating situation in Ukraine sparked Bitcoin and Crypto fresh price crashes. The former Chief Equity Strategist of JP Morgan and currently, the Managing Partner and Head of Research of the crypto-centered independent research boutique, Tom Lee stated that a portion of nearly $100 trillion in wealth will eventually flow into crypto markets, citing the rapidly changing regulatory landscape as a potential catalyst. Tom Lee’s Fundstrat Global Advisors told CNBC the simplest approach to attract users in crypto is ‘getting existing generations of investors in the US, not new investors, to be willing to allocate to bitcoin.’ “And 76% of all the wealth in America is controlled by people over age 65. So that’s nearly $100 trillion held by people that think bitcoin is still kind of a hobby or things that people who live in the basement play with.” Changing and evolving regulations, according to Lee, h...
