But he said bitcoin does seem to act in a way that certain technical analysis can be used to help forecast prices down the road.
Zimmermann said the cryptocurrency is behaving “technically,” which means “the collective swings in the market obey certain principles, but that doesn’t preclude a bubble by any means.”
Critics, including Jamie Dimon, have doubted the legitimacy of bitcoin. But on Friday, the JPMorgan Chase CEO seemed to be softening his tone on cryptocurrencies. He still declared that he remains “highly skeptical.”
In a move that could bring more volatility, Cboe bitcoin futures are set to begin trading on Sunday. The CME contracts launch Dec. 18…
Read Full: Bitcoin is a ‘video game’ filled with speculators who could propel it to $45,000, analyst says
