QCP and Coinbase analysts allowed BTC and ETH to grow in July

Analysts at US crypto exchange Coinbase (NASDAQ:COIN) have admitted that the returns of the largest cryptocurrencies by capitalization, BTC and ETH, will increase in July, as the assets have historically seen their best performance of the year during this month. QCP Capital also noted that "many signs point to a bullish July," with bitcoin's average return for the month at 9.6%.

According to Coinbase analysts, the current market situation looks favorable as a lot of excess positions have been eliminated after the announcement of the bankrupt bitcoin exchange Mt.Gox's $9 billion BTC payout.

Coinbase also believes that liquidity may improve after the average daily trading volumes of BTC and ETH on the spot and futures markets of global exchanges fell by 16.7% between May and June: from $90 billion to $75 billion.

In turn, analysts at JPMorgan believe that bitcoin will face sales pressure from Mt.Gox clients, who will receive their coins 10 years after the bankruptcy of the exchange - the rate of the asset during this time has increased more than 70 times.

At the same time, JPMorgan believes that this pressure will be short-lived, and the potential for recovery will appear in August.