JPMorgan Expects Crypto Market Recovery Beginning in August

[sirty143]

JPMorgan Expects Crypto Market Recovery Beginning in August

Global investment bank JPMorgan has predicted a crypto market recovery beginning in August. The firm revised its year-to-date crypto net flow estimate from $12 billion to $8 billion, citing bitcoin liquidations by Mt. Gox creditors and the German government’s seized asset sales... See more for yourself here.

Your opinion is greatly appreciated.

[Charles-Tim]

I thought only few MT. Gox users have been given their coins which is not up to 5% yet? I may be wrong but that was what I thought according to the news that I have read before. And that it would take 3 months before the coins would be fully distributed to the right owners. If only few coins have been distributed, that means some holders reacted and sold their coins because of the bad news amd not the liquidation exactly.

[Yamane_Keto]

I think that the effect of the interest rate will help a lot in pushing the price forward. If the interest rate is reduced twice this year, starting in August, the market will move well starting in November.
One month will not be enough to break $70,000, so I do not expect anything in August.

[TomPluz]

I thought August is considered to be a ghost month, a period not known to be good for Bitcoin's price. Anyway, I am really wishing that something exciting will be coming on next month and that if possible there can be a new ATH that Bitcoin will achieve. Right now, I can see that the Germany Effect is fading and MtGox is slowly winding up its affairs...so maybe in August they will not anymore be factors for Bitcoin's downturn. Now, I am wondering how good is JPMorgan in predicting what can be in the crypto market...does it have a good record or it is just one of the many  crowding voices making themselves relevant?

[yhiaali3]

They may be basing their study on the German government finishing selling all of its seized Bitcoin, as well as liquidating Mt.Gox's creditors, although I know that they have not finished yet and the distributions will continue during the following months.

But I do not think that a period of one month is sufficient for Bitcoin to rise to the desired extent. There may be a recovery in the cryptocurrency market in August, but I do not expect that it will be as much as we hope.

Personally, according to my expectations, we will not see a significant increase before the end of the year and the beginning of the new year.

[hugeblack]

As long as the price does not collapse severely, all scenarios are available and the upward trend is certain, especially since there are strong support points when the weekly index tries to close lower.