JP Morgan forecasts a crypto market rebound and an altcoin surge by August as major liquidation pressures ease. They expect 75% of top altcoins to outperform Bitcoin.
Key Insights:
JP Morgan predicts the crypto market will rebound in August, with heavy liquidations from Germany, Mt Gox, and Gemini subsiding by the end of July.
The report suggests that the slowdown of these outflows will cease impacting the market by August.
Currently, only 30% of the top 50 altcoins are outperforming Bitcoin, but JP Morgan expects around 75% to rise alongside Bitcoin in August.
The altcoin season index indicates a more neutral market where both altcoins and Bitcoin can thrive simultaneously.
#JPMorgan #Bitcoin❗ #CryptoNews #Blockchain #cryptocurrency