JPMorgan predicted that silver prices would plunge by 50% one day before the crash.
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According to CoinWorld, the price of silver plummeted by more than 30% in a single day, falling below $80 and erasing most of this year's gains. Previously, JPMorgan analyst Marko Kolanovic had issued a warning, predicting that the price of silver could drop by 50%, attributing the recent surge in silver prices to speculative "meme trading" activities rather than fundamental factors. Although the decline stopped at 30%, JPMorgan still maintains a bearish outlook on silver and warns that further sell-offs could confirm its previous prediction. Meanwhile, JPMorgan forecasts that the price of gold will reach $8,000 per ounce by 2030.
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