A team of JPMorgan analysts led by Nikolaos Panigirtzoglou noted that the liquidation of bitcoins by MtGox creditors and the sale of confiscated assets by the German government were negative factors affecting the industry.
“We continue to expect the crypto market recovery to begin in August,” the analysts said.
According to experts, if the Bitcoin rate shows growth in August, then altcoins may also recover. However, for the altcoin season to start, at least 75% of the top 50 coins, excluding stablecoins, must be able to outperform the first cryptocurrency in dynamics, JPMorgan said.
Experts estimate that since the beginning of the year, the inflow into the digital asset sector has amounted to $8 billion, which is 33% less than their estimate of $12 billion. Recall that in 2023, the crypto sector received approximately $15 billion, in 2022 – $40 billion, and in 2021 – $45 billion.
Earlier, JPMorgan analysts warned investors not to expect large-scale investments in upcoming ether spot ETFs.
Source: Bits
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