JPMorgan analyst: Future cryptocurrency rebound is unlikely to continue

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JPMorgan analysts say any cryptocurrency price rebound from now on is likely to be tactical and temporary rather than a long-term uptrend. Bitcoin's current price of around $67,500 is significantly higher than its $43,000 production cost, and the difference between Bitcoin's price and volatility-adjusted gold (around $53,000) limits Bitcoin's long-term upside potential. Analysts expect Bitcoin futures to rebound in August as liquidation pressure will decrease after July. Bitcoin and gold may benefit if Trump is re-elected president. (TheBlock)

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