According to JPMorgan analysts, the future rise of cryptocurrencies is not expected to be long-lasting. Analysts also predict that Bitcoin and gold could potentially benefit from a second Donald Trump presidency.

JPMorgan analysts state that any rise in cryptocurrency prices will be temporary and strategic, and a permanent uptrend has not started yet. It is noted that Bitcoin's current price is approximately $67,500, while its cost of production is approximately $43,000, and its volatility-adjusted benchmark to gold is approximately $53,000.

The analyst team led by JPMorgan's executive director Nikolaos Panigirtzoglou drew attention to these issues in the report they published on Thursday.

Analysts emphasized that they expect cryptocurrencies to rise again starting from August. They stated that they expected a recovery after July as liquidations decreased. Recently, Bitcoin futures have been affected by Gemini and Mt. They noted that Gox's performance was weak due to the liquidations of Gox creditors and the sale of Bitcoins confiscated by the German government. Analysts stated that these liquidations will decrease and that they expect a recovery in Bitcoin futures from August, which is in line with the recent increases in gold futures.

"Momentum traders, particularly CTAs (commodity trading advisors), have played a large role in gold futures trading. The momentum signal for gold in July has moved back into overbought territory from last April," analysts wrote. they said.

JPMorgan on Potential Second Trump Presidency
Bitcoin and gold are expected to benefit from a potential second Donald Trump presidency, according to JPMorgan analysts. Some investors think Trump may view crypto companies and their regulations in a more positive light than the current Biden administration. Analysts have noted that Trump's potential trade policies could increase interest in gold from emerging market central banks, especially the Bank of China.

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