15 October 2026
JPMorgan Suggests Investors To Sell Their Cryptos
JPMorgan’s chief global strategist at Asset Management, David Kelly, asks investors to dump their cryptocurrency holdings. Kelly believes that the persistent hawkishness of the U.S. Federal Reserve will spell more trouble for digital assets.
Additionally, he is bearish on large-cap tech stocks. The leading cryptocurrency, Bitcoin has been trading in tandem with the tech-heavy.
The crypto market started to crash after Fed Chair Jerome Powell said that the central bank would continue its aggressive campaign to raise interest rates at the Jackson Hole conference. Bitcoin along with other altcoins erased their gains due to Powell's bearish remarks.
Yesterday, Minneapolis Federal Reserve Bank President Neel Kashkari said that he was "happy" about the market sell-off since it means that investors understand that the Fed is fully committed to bringing inflation back to 2%. He also said that was "not excited" by the stock market rally that took place in late July after the central bank announced its second consecutive 75-basis-point rate hike.
Last year in August, the crypto was "95 percent fraud, hype, noise, and confusion," says Kashkari.
Disclaimer: The author’s thoughts and comments are solely for educational reasons and informative purposes only. They do not represent financial, investment, or other advice
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