JPMorgan Says Crypto Liquidations Will End And Bitcoin Bull Market Will Begin, Here’s When
Summary
JP Morgan maintains bullish stance on Bitcoin despite recent bearish trends. Predicts BTC liquidations to abate in July, leading to a strong bull market in August. Bank revised year-to-date crypto net flow from $12B to $8B, citing decline in Bitcoin reserves and skepticism about sustainability of high inflows. Mt Gox and German government's BTC sell-offs have impacted market. Analysts anticipate substantial bullish rally for Bitcoin in August. Mt Gox's repayment to creditors and German government's Bitcoin sell-offs contribute to ongoing BTC liquidations, impacting market price.
