US Mega Bank JPMorgan Predicts Harsh Drop In This Bitcoin Metric
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....
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Bitcoin’s history is filled with stories of people who put small, disposable amounts of money into the crypto and ended up making a fortune. This has been no different from the case of one Norwegian man, whose throwaway $22 Bitcoin investment has turned into a life-changing sum. When Kristoffer Koch had originally invested in Bitcoin back in 2009, the cryptocurrency was only trading for a few cents. Koch, at the time, was intrigued which is why he said he made the purchase. He got 5,000 BTC for around $22 at the time, although this figure often varies. Nevertheless, Koch ended up....
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”....
As the bear market continues to linger, analysts have weighed in on the decline of the flagship cryptocurrency, Bitcoin, and the crypto market, by extension. This time, another crypto analyst has explained what is influencing Bitcoin’s price decline. Factors Causing BTC’s Decline Bitcoin notably dropped below the $27,000 level on October 12. Addressing this decline in a recent episode on the ‘Cheeky Crypto’ YouTube channel, Crypto analyst Nick noted that there wasn’t much going on in the news and the only thing that could have affected Bitcoin’s drop was the US inflation data, which....
Global investment bank JPMorgan has predicted that the bitcoin price slump will likely be over when the cryptocurrency’s dominance rises back above 50%. “I think that’s another indicator to watch here in terms of whether this bear phase is over or not,” the firm’s analyst explained. JPMorgan’s Bitcoin Market Prediction JPMorgan analyst Nikolaos Panigirtzoglou has shared his view of when he expects the current bitcoin bear market to be over. In an interview with CNBC on Tuesday, the analyst explained that the bitcoin price slump will likely end when the....
Global investment bank JPMorgan has predicted that the long-term price of bitcoin will reach $150K while the fair value of the cryptocurrency sits at $38K. “The biggest challenge for bitcoin going forward is its volatility and the boom and bust cycles that hinder further institutional adoption,” JPMorgan’s analysts explained.
JPMorgan’s Bitcoin Price Prediction
Global investment bank JPMorgan has revealed its prediction for the long-term price of bitcoin as well as the cryptocurrency’s fair value.
JPMorgan Chase & Co.’s....