[JPMorgan: The short-term rebound in the cryptocurrency market may only be temporary] According to Golden Finance, JPMorgan Chase (JPM) said in a research report last week that any rebound in the cryptocurrency market in the short term may be tactical rather than the beginning of a new long-term bullish trend. The bank said this is because the price of Bitcoin (BTC) is currently too high relative to its production cost of $43,000 and is also too high relative to its volatility-adjusted gold price ($53,000). As of press time, Bitcoin is trading at around $67,220. JPMorgan noted that the momentum of Bitcoin futures has been weak in recent weeks due to the liquidation of BTC by Gemini's creditors, Mt.Gox's creditors, and the German government.