Banking giant JPMorgan has released a report on the current state of the cryptocurrency market.
In a recent report by JPMorgan, it was noted that mining companies’ inventories are decreasing ahead of the Bitcoin halving, suggesting that this might be a good entry point.
The report states that Bitcoin has gained 43% since the beginning of the year and 130% over the last six months, with a suggestion that “a portion of the typical post-halving rally may have moved forward.”
Commenting on the matter, JPMorgan analysts Reginald Smith and Charles Pearce predicted an increase in volatility and trading volumes as the halving approaches:
With the halving on the horizon, we expect both Bitcoin and mining stocks to see an increase in volatility and trading volumes.
