Bitcoin 'Downside Risk' Looms Yet Again In July: JPMorgan
Portfolio Pulse from Murtuza Merchant
JPMorgan analysts predict potential downward pressure on Bitcoin prices in July due to upcoming repayments to Mt. Gox creditors, who are expected to sell a portion of their recovered Bitcoin. This could lead to a temporary dip in Bitcoin prices, with a potential rebound starting in August. FTX creditor repayments in cash later in the year could provide a market boost.
June 27, 2024 | 11:49 am
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Bitcoin prices may face downward pressure in July due to Mt. Gox creditor repayments, with a potential rebound starting in August. FTX creditor repayments in cash later in the year could provide a market boost.
The expected selling pressure from Mt. Gox creditor repayments in July could lead to a temporary dip in Bitcoin prices. However, a rebound is anticipated from August, with FTX cash repayments potentially boosting the market later in the year.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
POSITIVE IMPACT
JPMorgan analysts predict a potential dip in Bitcoin prices in July due to Mt. Gox creditor repayments, which could lead to selling pressure. A rebound is expected from August, with FTX cash repayments later in the year potentially boosting the market.
JPMorgan's analysis on Bitcoin price movements due to Mt. Gox and FTX creditor repayments could influence investor sentiment towards JPMorgan's research credibility and market predictions.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80