Leaked JPMorgan Report Reveals Extreme Bitcoin Price Volatility Warning As Ethereum Crash Adds To $100 Billion Crypto Rout

Bitcoin has swung wildly through 2021, falling along with the second-largest cryptocurrency ethereum after huge runs and dashing hopes that growing adoption among retail investors and institutions would bring stability to roller coaster crypto markets.

The bitcoin price is down around 50% from an April peak that saw it more than double in the first three months of the year (subscribe now to Forbes' CryptoAsset & Blockchain Advisor and beat the market). Ethereum has fallen even further from its May high of well over $4,000 per ether token, today dropping a further 5% and dipping under $2,000 amid a cryptocurrency sell-off that's wiped around $100 billion from the combined crypto market in less than a week.

Now, Wall Street giant JPMorgan, after correctly calling May's cryptocurrency crash, has warned over El Salvador's controversial plan to adopt bitcoin as legal currency—pointing to bitcoin's low trading volume outside of major exchanges and its extreme price volatility as possibly "a significant limitation on its potential as a medium of exchange.”