JPMorgan predicts bitcoin mining stock cooldown: CoinDesk

A research note from banking giant JPMorgan says bitcoin mining stocks may be “due for a breather” as bitcoin spot ETFs begin trading, CoinDesk reported. 

Bitcoin and a host of stocks that tend to follow its price movements were red-hot in the months leading up to yesterday’s SEC approval. It remains unclear if the approval itself will amount to a “sell the news” event or if the assets have further to climb. In the eyes of JPMorgan analysts Reginald Smith and Charles Pearce, mining stocks in particular should slow down but will “track bitcoin prices over the coming weeks.”

Read more: Bitcoin ETF starting gate: A look at the spot funds set to start trading today

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