Morgan Stanley on Decline of US Dollar, JPMorgan Warns of a BTC Selloff, BTC Mining Improved, and More — Week in Review
Morgan Stanley has raised concerns about the potential decline of the U.S. dollar’s dominance due to the increasing interest in digital currencies. Meanwhile, JPMorgan has warned of a potential bitcoin selloff, anticipating a $3 billion outflow from Grayscale’s Bitcoin fund. The profitability of Bitcoin’s SHA256 algorithm in mining operations has significantly improved, now ranking as the third most lucrative proof-of-work network. Finally, Jim Cramer of CNBC’s Mad Money expressed skepticism about bitcoin’s future, doubting its ability to recover amidst ongoing market challenges.