“Bitcoin is providing a solid foundation for a staggering array of projects, some of which will fundamentally change the nature of money by the end of the decade.
“Those celebrating the rise of competing chains in a rampant bull crypto market should do well to remember that they owe everything to bitcoin.”
However, there is enough uncertainty in the market for financial institutions to warn against investing in the flagship token.
JPMorgan analysts warned this week bitcoin stands to lose big time if it does not break the £29,297 ($40,000) barrier soon.
The analysts said investors might look to cash out and “momentum signals will naturally decay from here up till the end of March”.