The crypto market appears to be at its lowest for 2022, when the bear seems to never end. However, JP Morgan’s Nikolaos Panigirtzoglou claimed that the recent liquidity crisis in the cryptocurrency market may come to an end.
‘Bear market won’t last long’
Several JPMorgan financial strategists believe the current bear market has reached an advanced stage and will end soon. Bloomberg quoted a note written by JPMorgan strategists, including Nikolaos Panigirtzoglou. It stated that the recent downturn in the cryptocurrency market is a manifestation of the deleveraging process.
The good news is that the current crypto deleveraging cycle will not last long. “The current cycle is no longer sustainable, as crypto entities with stronger balance sheets are now entering.”
According to JPMorgan strategists, venture capital financing remained strong between May and June. For example, FTX has extended credit to cryptocurrency firms. The exchange is also in the process of acquiring some businesses.
How long until the BTC price recovers to $28K?
Analysts at JPMorgan are bullish on the cryptocurrency market. Meanwhile, Deutsche Bank analysts are more rational. They predict that the Bitcoin price will recover to $28,000 in December 2022.
In a report, Deutsche Bank analysts attempted to forecast Bitcoin’s future. They claim that the crypto market has followed the Nasdaq and the S&P 500 since late 2021. And since the S&P 500 is expected to recover to January levels, the Bitcoin price will begin to recover as well.
According to Deutsche Bank analysts, a price increase of about 30% to $28,000 is likely.
How to maximize profits in BTC market
The future seems quite appealing for BTC hodlers, however, when it will happen is still unpredictable. So, how can we earn more BTC before the bull really comes?
Bexplus, a popular cryptocurrency futures exchange, has launched an interest-bearing wallet program, allowing users to earn passive income by holding Bitcoin without any risks. Regardless of whether BTC’s price is going up or down, you can enjoy up to 21% annualized interest. This is a good option for traders who prefer risk-free investment.
For traders who want to profit more in trading when the bull comes, Bexplus offers copy trading which enables you to profit from copying other excellent traders’ deals. In Bexplus, you will automatically synchronize the opening/closing actions of the traders you follow after choosing to follow an order. Instead of observing and researching the market painstakingly, you are able to just follow the excellent strategists in the industry and then enjoy high returns easily.
Know more about Bexplus
Bexplus is a leading crypto derivatives trading platform offering 100x leverage futures trading on various trading pairs: BTC, ETH, ADA, DOGE, XRP, etc. Bexplus is popular among over two million traders from over 200 countries/regions. In addition, it is safe for being accredited by the U.S. FinCEN MSB (Money Services Business). Furthermore, It also boasts of the following features:
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Source: https://en.cryptonomist.ch/2022/07/09/bear-market-j-p-morgan-predicted-btc-bottom/