• Market Cap: $2,587,282,418,811.83
  • 24h Vol: $99,456,063,290.42
  • BTC Dominance: 44.50%

Bitcoin and DOGE Rally, JPMorgan Warns Bitcoin Could Risk Loss In July

Published: Friday, 2nd July, 2021 - 00:37

The text below is an advertorial article that was not written by Cryptonews.com journalists.

Although the crypto markets are still plagued by China FUD, the markets as a whole are recovering in the last two days. Bitcoin tested the 29K USD psychological level once but has since rebounded the 35,000 USD resistance. Meanwhile, altcoins are rising steadily, with Doge seeing a 20% gain.

Despite the recent gain, the markets are still in a dangerous position. In a report, JPMorgan analysts opined that bitcoin’s fair value over the medium term is between 23,000 USD and 35,000 USD. JPMorgan’s strategists are concerned that the potential unlocking of shares in the Grayscale Bitcoin Trust (GBTC) could pressure the price of bitcoin to drop deeper.

The Grayscale Bitcoin Trust is the largest Bitcoin fund offered with 21.9 billion USD in assets under management. The GBTC saw the highest monthly flows of 2 billion USD and 1.7 billion USD last December and last January respectively. The lock-up period expires in June and July. Investors may sell their shares as bitcoin has fallen considerably in the last two months.

Bitcoin

The weekly GBTC premium to NAV has been below 0 for over four months, indicating strong selling pressure. With the coming central-bank tapering of quantitative easing, investors are ditching bitcoin and turning to other traditional assets. In the short term, the prospect of bitcoin remains rocky.

How To Invest In The Downside?

Although bitcoin risks further price drop, you can still make profits from it. Futures trading is one of the most popular tools to grow your wealth. You can benefit from price swings to earn money by speculating the direction of crypto’s price. Bexplus is a leading crypto derivatives platform accredited by MSB (Money Services Business). Bexplus offers 100x leverage in BTC, ETH, EOS, LTC, and XRP futures contracts.

Join the latest promotion and get up to 0.05BTC on Bexplus! You will be eligible to get a corresponding amount of BTC reward based on your accumulated deposit amount during the activity time. Up to 0.05 BTC is available. The more you deposit, the more you can get!

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Sign Up

Bexplus requires no KYC so you only need to open an account with an Email address, in just 1 minute. Once registration is complete, a trading account and a demo account with 10 BTC will be opened automatically.

Practice Your Skills: A Demo Account

Successful traders are those who learn to analyze the market and could always keep a clear head. The best way to improve your skills and mindset is by practicing in the free demo account.

Every user is given 10 BTC at the beginning and they are replenishable, so you can try out different strategies as much as you like.

Bitcoin

Make A Deposit And Claim Bonuses

No deposit fee is needed. You can start your deposit at 0.001 BTC. Bexplus supports Bitcoin, ETH, etc, as well as USD, EUR, and GBP deposits.

To help traders earn more profits, Bexplus offers a 100% deposit bonus to every trader. Deposit 1 BTC and you will get 2 BTC, and up to 10 BTC is available for each deposit. The bonus is not withdrawable but could be used as margin.

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Earn Passive Income With Bexplus

When you are not trading, you can transfer your BTC to the interest-bearing wallet and enjoy up to 21% annualized interest.

The interest is calculated daily and the revenue of the deposit is settled monthly. The monthly interest is calculated as (S*I/365*30)=MI. S represents the sum of the deposit, I stands for interest, and MI is the monthly interest.

Bexplus offers ethereum price prediction 2025, how to mine litecoin and xrp price prediction to help users keep up-to-date with the cryptocurrency industry.

The crypto market is full of opportunities, don’t hesitate to join and claim your profit!

This post first appeared on: Crypto News

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