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JPMorgan Predicts Bitcoin Price Decline Post-Halving

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Pooja Chauhan
Pooja Chauhan
Pooja Chauhan: Your Source for Entertainment and Box Office News Pooja Chauhan is a passionate writer and dedicated journalist specializing in delivering the latest updates and insights from the world of entertainment and box office. With a keen eye for detail and a deep love for cinema, Pooja brings her readers accurate and engaging coverage of all things related to movies, celebrities, and the dynamic world of showbiz. Her commitment to keeping her audience well-informed and entertained makes her a valuable voice in the realm of entertainment journalism. When she's not busy uncovering the latest scoops, Pooja enjoys exploring classic films and indulging in creative writing." Contact us: admin@bollywoodfever.co.in

JPMorgan Predicts Bitcoin Price Decline Post-Halving, Citing Overvaluation and Market Saturation

According to analysts from JPMorgan, Bitcoin‘s price is anticipated to decline following the upcoming halving event, as the potential impact is believed to have already been integrated into its current market price.

JPMorgan Sees Limited Upside for Crypto Markets

In a report released on Wednesday, the team led by Nikolaos Panigirtzoglou expressed skepticism about a post-halving price surge for Bitcoin, stating, “We do not expect bitcoin price increases post-halving as it has already been priced in.” They added, “In fact, we see a downside for the bitcoin price post-halving for several reasons.”

The reasons cited for this expected downturn include Bitcoin’s continued status in “overbought conditions,” as indicated by an analysis of open interest in bitcoin futures. Furthermore, Bitcoin’s price still hovers significantly above JPMorgan’s volatility-adjusted valuation of $45,000 when compared to gold, and also remains above the bank’s estimated production cost for Bitcoin post-halving, which stands at $42,000.

The analysts also highlighted that lackluster crypto venture capital funding this year, despite a resurgence in the broader crypto market, could further contribute to a potential drop in Bitcoin prices following the halving.

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