JPMorgan: Crypto Markets Expected to Rebound in August, Liquidation Activity Expected to End This Month
July 11 (Bloomberg) -- The crypto market is expected to start rebounding in August, JPMorgan Chase said in a new research note, according to Coindesk. Bitcoin's reserves on major trading platforms have declined over the past month due to the liquidation of Mt. Gox and Gemini's creditors as well as the German government's sale of cryptocurrencies seized from criminal activity, leading the bank to lower its year-to-date net crypto market flow estimate to $8 billion from $12 billion. The report notes that liquidation activity should end this month and the market will recover from August.
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