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Report from JPMorgan: Beware of Bitcoin halving!




JPMorgan suggested that Bitcoin could experience a possible fall after the halving. The bank assessed the future of BTC.
In the last 7 days, BTC has experienced a fall of about 14%, and with this decline, outflows have started in the cryptocurrency market.
bull expectations about the halving started to fade into the background with the recent decline. Wall Street giant JPMorgan stated that the halving, which is being followed globally, will negatively affect the price of Bitcoin (BTC) and increase volatility.
According to JPMorgan's report, an analysis of open interest for Bitcoin futures shows that the crypto market is still in the overbought zone. This indicates that there may be a sharp movement after Bitcoin halving.
On Thursday, open interest for Bitcoin rose to $30.81 billion, but there was a fall of 2.35% in the last 24 hours. JPMorgan's analysis argues that Bitcoin is still in overbought territory.
JPMorgan's research report states that the BTC price will weaken after the halving and negative scenarios may arise. The report states a target of $45,000 for BTC as a result of a comparison with gold.
The bank's analysts say that the halving will especially affect miners and that mining companies may experience fall. "With unprofitable Bitcoin miners exiting the network, most publicly traded Bitcoin mining companies will experience a significant fall in hash rate and consolidation," the analysts suggest.
JPMorgan warns that after the halving, miners may migrate to lower-cost regions, such as Latin America and Africa.
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miss_1903
2024-04-18
Thank you ✨ for the information You need to buy the dip and wait patiently Abundant profits ✨🐞 to everyone
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CarryingASingleLeek
2024-04-18
First Review
This JPMorgan Chase went shorter from 20,000 to 70,000
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