News - J.P. Morgan: "The worst is behind us"

By Ted Maas

J.P. Morgan: "The worst is behind us"

Investing

The recent sell-off in the crypto market is likely to end soon, US bank J.P. Morgan ventured a prediction.

"The worst is behind us for Bitcoin and the other altcoins. So say analysts at U.S. bank J.P. Morgan. As a Bloomberg report explains, they expect the recent wave of selling in the crypto sector to subside. After the euphoria surrounding a possible Bitcoin ETF and Ripple's partial victory against the SEC in court, prices plummeted a few weeks ago. So analysts at J.P. Morgan are now predicting a stabilization.

Activity around futures contracts on the CME (the largest derivatives marketplace) and other exchanges indicates a softening of the downtrend. The result will come out to be a "limited downside risk for the crypto market," analysts said. However, the sector remains vulnerable to "regulatory uncertainty," which can always reignite the downward trend. Take, for example, the recent news surrounding the Tornado Cash project.

The three founders are facing a lawsuit from the U.S. Department of Justice, which could also impact the rest of the crypto market. In addition, there is still uncertainty about the regulatory direction of the U.S. Securities and Exchange Commission (SEC). According to Bloomberg's report, euphoria over Ripple's victory against the SEC has waned as a final ruling is still months away.

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