Banking giant JPMorgan has released a report on the current state of the cryptocurrency market.
In a recent report published by JPMorgan, it was noted that mining companies have reduced their stocks prior to the Bitcoin halving, indicating that this could be a good entry point.
The report stated that Bitcoin has gained 43% since the beginning of the year, and 130% in the last six months, while suggesting that “a portion of the typical rally post-halving may have been pulled forward.”
JPMorgan analysts Reginald Smith and Charles Pearce commented on the matter, foreseeing an increase in volatility and trading volumes as the halving approaches:
With Bitcoin’s halving on the horizon, we expect increased volatility and trading volume in both Bitcoin and mining stocks.
