JPMorgan Throws Cold Water On Bitcoin Halving Rally: Price Drop Incoming?
As the fourth Bitcoin halving looms on the horizon, the cryptocurrency world finds itself divided between optimism and caution regarding its potential impact on the market. With less than a day remaining until the scheduled event, industry experts are weighing in on what the future may hold for the world’s most popular digital currency. Related […]
Related News
In a recent research report from JPMorgan, the financial firm has predicted a harsh drop for one Bitcoin metric, forecasting a potential decline of the Bitcoin Network Hash Rate by 20% leading up to the Bitcoin halving in April 2024. JPMorgan Expects Bitcoin Hash Rate To Drop In the report, JPMorgan stated that the Bitcoin mining industry is at a crucible stage leading all the way to the Bitcoin halving in April 2024 and beyond. This is because the approval of a Spot BTC exchange-traded fund (ETF) could spark a rally against the backdrop of record hash rates and the impending block reward....
The 2024 Bitcoin halving is only two days away, and there are already varying expectations of what might happen to the BTC price once the event is completed. One way to get an idea of how it could play out for the Bitcoin price, though, is through historical data and how the cryptocurrency has performed at times like these. Bitcoin Price Trends For Previous Halvings There have been three halvings so far since Bitcoin was first launched in 2009 and with each one, Bitcoin has demonstrated various reactions to the event. The first halving took place on November 28, 2012, the second happened....
It’s been quite a bearish week for Bitcoin, as the crypto has fallen around 3% since the beginning of the week. Price action, in particular, has had Bitcoin struggling to break above $27,000, indicating a potential risk of more losses below this resistance level in the near term. However, according to a crypto analyst, this current retracement might be the beginning of a historical Bitcoin cycle before each halving. Analyst Shows Bitcoin Price Correction Based On Historical Trends Crypto analyst Rekt Capital has said in a post that if historical Bitcoin “halving cycles”....
Investment bank JPMorgan Chase has warned of a further bitcoin price decline, expecting an incoming bear market. The bank’s analysts look at the trend in bitcoin futures and see “an unusual development and a reflection of how weak bitcoin demand is at the moment from institutional investors.” However, a number of people disagree with this analysis. JPMorgan Warns of Incoming Bear Market JPMorgan Chase analysts, led by Nikolaos Panigirtzoglou, warned of an incoming bitcoin bear market in a note to investors last week. The analysts looked at bitcoin futures which have been....
So far, the doomsayers are proven wrong, yet that situation could change at any given moment. The Bitcoin halving is almost upon us, and many people believe the Bitcoin price will be affected by this milestone. A lot of people seem to think the price will go down, and some of them even expected it to go down before the halving itself. But that does not seem to be the case, despite a small dip on the charts after a strong climb. Influencing the Bitcoin price on the free market is not as straightforward as most people want to believe. Granted, there is the age-old game of bulls and bears....