Cryptocurrency

2024

<p>The future of the crypto market is sparking numerous speculations. The latest one comes from JPMorgan, which predicts a significant recovery starting in August. This forecast comes after a major reassessment of the net flow of cryptocurrencies since the beginning of the year, influenced by notable bitcoin liquidations.</p> 
<h2 id="h-jpmorgan-s-new-figures-on-cryptocurrency-flows">JPMorgan’s New Figures on Cryptocurrency Flows</h2> 
<p>JPMorgan recently adjusted its estimate of the <a href="https://www.cointribune.com/en/bitcoin-etfs-record-positive-flows-for-the-5th-consecutive-day/">net flow</a><a href="https://www.cointribune.com/en/bitcoin-etfs-record-positive-flows-for-the-5th-consecutive-day/" target="_blank" rel="noreferrer noopener"> </a><a href="https://www.cointribune.com/en/bitcoin-etfs-record-positive-flows-for-the-5th-consecutive-day/">of</a><a href="https://www.cointribune.com/en/bitcoin-etfs-record-positive-flows-for-the-5th-consecutive-day/" target="_blank" rel="noreferrer noopener"> cryptocurrencies</a> from $12 billion to $8 billion for the year 2024. This revision takes into account various factors, including significant bitcoin liquidations. The bank’s analysts, led by Nikolaos Panigirtzoglou, highlighted that this reduction is mainly due to a decrease in bitcoin reserves on exchanges over the past month. “Bitcoin liquidations by Mt. Gox creditors and sales of seized assets by the German government have contributed to this decline,” they pointed out.</p>
<div class="my-4">
 <div class="ads " data-page-type="" data-location="1"> 
 </div> 
</div> 
<p>The analysts noted a substantial decrease in the German government’s bitcoin reserves, which dropped from 13,110 BTC to 9,925 BTC in one day. At the same time, the Mt. Gox rehabilitation trustee started repayments in bitcoin to creditors, marking a key step after the massive 2014 hack.</p> 
<p>The revised estimate includes $14 billion in net flows into crypto funds, $5 billion from Chicago Mercantile Exchange (CME) futures contracts, and $5.7 billion from crypto venture capital funds.</p> 
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper"> 
  <div class="entry-content-asset">
   <div class="social-embed-container">
    <blockquote class="twitter-tweet" data-width="500" data-dnt="true">
     <p lang="en" dir="ltr"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f31f.png" alt="🌟" class="wp-smiley" style="height: 1em; max-height: 1em;"> JPMorgan predicts a crypto market recovery in August! Reduced liquidations and declining bitcoin reserves suggest a positive outlook. <img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f680.png" alt="🚀" class="wp-smiley" style="height: 1em; max-height: 1em;"><img src="https://s.w.org/images/core/emoji/14.0.0/72x72/1f4b9.png" alt="💹" class="wp-smiley" style="height: 1em; max-height: 1em;"> <a href="https://twitter.com/hashtag/CryptoRecovery?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoRecovery</a> <a href="https://twitter.com/hashtag/JPMorgan?src=hash&amp;ref_src=twsrc%5Etfw">#JPMorgan</a> <a href="https://twitter.com/hashtag/Bitcoin?src=hash&amp;ref_src=twsrc%5Etfw">#Bitcoin</a> <a href="https://twitter.com/hashtag/CryptoMarket?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoMarket</a> <a href="https://twitter.com/hashtag/InvestmentTrends?src=hash&amp;ref_src=twsrc%5Etfw">#InvestmentTrends</a> <a href="https://twitter.com/hashtag/BTC?src=hash&amp;ref_src=twsrc%5Etfw">#BTC</a> <a href="https://twitter.com/hashtag/MarketForecast?src=hash&amp;ref_src=twsrc%5Etfw">#MarketForecast</a> <a href="https://twitter.com/hashtag/BlockchainNews?src=hash&amp;ref_src=twsrc%5Etfw">#BlockchainNews</a> <a href="https://twitter.com/hashtag/CryptoInvesting?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoInvesting</a> <a href="https://twitter.com/hashtag/CryptoInsights?src=hash&amp;ref_src=twsrc%5Etfw">#CryptoInsights</a> <a href="https://t.co/R3AxN94UVg">pic.twitter.com/R3AxN94UVg</a></p>— ExplorewithXXKK (@Exploring_XXKK) <a href="https://twitter.com/Exploring_XXKK/status/1812000291438624999?ref_src=twsrc%5Etfw">July 13, 2024</a>
    </blockquote>
    <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
   </div>
  </div> 
 </div>
</figure> 
<div class="affiliate-button"> <a class="affiliate-button__link" href="https://bitvavo.com/fr/affiliate/coinmedia?a=_cta" target="_blank" rel="noreferrer noopener">€20 bonus for registering on Bitvavo</a> <a class="affiliate-button__disclaimer" href="https://www.cointribune.com/en/sponsored-content/" target="_blank" rel="noreferrer noopener">This link uses an affiliate program.</a> 
</div> 
<h2 id="h-prospects-for-the-crypto-market">Prospects for the Crypto Market</h2> 
<p>According to JPMorgan, this revision of net flows could stabilize the market. “This revision of estimates should help stabilize the market as exchange reserves decline,” the analysts specified.</p> 
<p>JPMorgan considered the initial forecasts of $12 billion to be too optimistic, given the high value of bitcoin relative to its production cost and the price of gold. In June, the bank had expressed doubts about the sustainability of such inflows into the crypto industry, questioning the robustness of these projections.</p> 
<p>If JPMorgan’s prediction proves accurate, it could mark a <a href="https://www.cointribune.com/en/the-crypto-market-is-gaining-momentum-again-yes-but-for-how-long/" target="_blank" rel="noreferrer noopener">turning point for the crypto market</a>. Stabilization and recovery starting in August could attract new investors and restore confidence among market participants. However, analysts remain cautious. Factors such as government regulations and technological developments will continue to play a crucial role in the evolution of the crypto market, they noted.</p>

Cryptocurrency: JPMorgan Announces an Imminent Market Comeback!

Table of Contents

Cointribune EN

Other articles published on Jul 13, 2024

Huobi Token (HT) Price Prediction 2025, 2026, 2027, 2028, 2029 and 2030

China and Russia: The most interesting friendship in the world

After $1 Price Projections of MBAG Coins, Fantom and Zebec Protocol Have Lost the Fight for the B...

Ripple Vs SEC: Lawyers Reflect On Settlement, Odds Of Judge Torres’ Ruling Today

JasmyCoin (JASMY): Bulls Back in Charge After Price Plunge?

Bitcoin Can Boost US Dollar Strength: Senator Lummis

Join our free newsletter for daily crypto updates!