Bitcoin: New rally is on the way – JPMorgan

Investing.com – In a recent report, JPMorgan (NYSE:JPM) announced that a new Bitcoin rally is expected in August. The analysts of the renowned bank are optimistic that the recent phase of correction will soon come to an end and the market can recover. Despite the recent significant setbacks, the banking giant sees light at the end of the tunnel.

A key point in JPMorgan's report is the expectation that the wave of crypto liquidations, which has burdened the market in recent months, is likely to subside in August. These liquidations had led to significant price declines, but analysts see signs that this pressure will soon ease.

While JPMorgan talks about another rally, the question arises: Are there other lucrative alternatives to outperform the market? Indeed, there are. With InvestingPro, you can discover other ways to achieve decent returns. The 6 ProPicks strategies from InvestingPro have already achieved up to 1900% returns, while the S&P 500 yielded only 280% in the same period.

And the best part: During the Summer Sale you can now get InvestingPro for up to 60% off with the discount code "ProTrader." Take advantage of this opportunity to benefit from proven strategies and diversify your portfolio. An opportunity not to be missed!

Adjustment of Crypto Net Inflows

Interestingly, JPMorgan has lowered its estimate of crypto net inflows for the current year from the original $12 billion to $8B. This adjustment is based on current trends and data that provide a more accurate picture of the current market conditions. The bank admitted that the original estimate of $12B was too optimistic in light of market developments. The high Bitcoin price, which was far above production costs, made the earlier estimate unrealistic.