According to The Wall Street Journal (WSJ), Wall Street bank giants JP Morgan and Citigroup performed strongly in the first quarter, while share prices generally declined.
The WSJ reported that stock trading revenues rose by 26 percent to $ 2 billion. JP Morgan and Citigroup's equity revenues, which saw a 35 percent net profit increase, rose by 38 percent to $ 1.1 billion. But with the closing on Friday, both banks saw a drop in their share prices.
According to data from Bloomberg Markets, JP Morgan's share price closed at around $ 110, down 2.7 percent from today's close.
Citigroup's share price fell by about 1.5 percent to about $ 71.
WSF also said that Wells Fargo was up $ 5.9 billion in the first quarter with an increase of 5 percent. He also said that figures could be recalculated after a $ 1 billion legislation. Wells Fargo shares declined by about 3 percent yesterday as the market closed.
Wall Street bank shares fell while major cryptos began to hit the second quarter
In another article, the WSJ said that Wall Street banks could be a possible cause of falling share prices due to the past week's mini-rally, which led investors to profit. In a statement to Morgan CFO Marianne Lake WSJ, the recent tax reform said it would bring benefits that could help the bank's share price, but it is too early to do so.
Traditional markets have started at relatively low levels in the second quarter. The crypto markets, which are parallel to this situation, are worse than the worst first quarter for Bitcoin (BTC) and Ethereum (ETH). On April 2, the head of the second quarter, founder of investment management company DoubleLine Capital said BTC's risk assets were "new bulletins" as "lead bullets".
Crypto market showed a relatively strong growth at the beginning of the second quarter. Bitcoin's price increased more than $ 1,000 in 30 minutes on April 12th. The crypto market continued to grow with BTC on Friday, exceeding $ 8 billion. And it was seen that ETH had 500 dollars.
At the time of publication, BTC is currently trading at $ 7945, but we see that it depreciated by about 1.78 percent over the 24-hour timeframe. Ethereum is trading at about $ 492, down 4.45 percent within 24 hours.