Will Bitcoin’s Rise Continue? When Will the Real Recovery Happen? JPMorgan Analysts Evaluate

In a recent report, analysts led by JPMorgan Chief Executive Nikolaos Panigirtzoglou expressed skepticism about the sustainability of any recovery in cryptocurrency prices.

They suggested that such a recovery could be tactical, temporary and strategic rather than the beginning of a permanent uptrend.

JPMorgan Analysts: “Bitcoin Price Recovery Could Begin in August”

Analysts, Bitcoin’in He noted that its current price of around $67,500 is high compared to its production cost of around $43,000 and its volatility-adjusted benchmark for gold of around $53,000.

The report noted that the difference between Bitcoin’s price and JPMorgan’s volatility-adjusted gold benchmark “points to mean reversion around the zero line, thereby limiting any upside potential for Bitcoin prices in the long term.”

The report also emphasized that a recovery in BTC prices is expected from August, as liquidations decrease after July. Bitcoin futures have been weak recently due to the liquidations of Gemini and Mt. Gox creditors, as well as the German government selling seized Bitcoins. These liquidations are expected to decrease after July, leading to a recovery in Bitcoin futures from August. This is also in line with the recent increases in gold futures.

“Momentum traders, such as commodity trading advisors, played a big role in gold futures trading,” the analysts said, adding: “The momentum signal for gold rose in July toward the overbought territory from last April.”

Interestingly, the report also suggested that Bitcoin and gold could benefit from a possible second presidency of Donald Trump. Some investors crypto para He believes that Trump’s potential trade policies could lead to an increased focus on gold by emerging market central banks, particularly China’s central bank, analysts added. This could have significant implications for both the Bitcoin and gold markets in the future.

*This is not investment advice.