Cryptocurrency

Bitcoin

April

Giant

<p style="text-align: justify">You can also read this news on COINTURK NEWS: <a href="https://en.coin-turk.com/exploring-jpmorgans-latest-bitcoin-report-and-market-predictions/" data-wpel-link="internal">Exploring JPMorgan’s Latest Bitcoin Report and Market Predictions</a><br></p>
<p style="text-align: justify"><strong><a href="https://coin-turk.com/colorado-valisinden-dikkat-ceken-bitcoin-btc-aciklamasi-dususe-ragmen-kararliyim" data-wpel-link="internal">Bitcoin</a> halving</strong> is just hours away, and there is widespread concern due to the recent price drop. Expectations are that the decline might continue post-halving. Reports arriving only heighten investor worries. Today, a report from JPMorgan has arrived. Let’s delve into the details of the report.</p> 
<h2 style="text-align: justify" id="wall-street-giant-jpmorgan-s-new-bitcoin-report">Wall Street Giant JPMorgan’s New Bitcoin Report</h2> 
<p style="text-align: justify">Wall Street giant <strong>JPMorgan</strong> (JPM) suggests in its latest research report that <a href="https://en.coin-turk.com/bitcoin-price-dynamics-and-trading-volumes-surge/" data-wpel-link="internal">Bitcoin</a>‘s price could weaken due to the halving event. The report states that the reward halving expected around April 19-20 could lead to a potential price drop for Bitcoin (<a href="https://coin-turk.com/sozun-ozu-iste-olacaklar-bitcoin-btc-ve-kripto-paralar-neden-dusuyor" data-wpel-link="internal">BTC</a>).</p> 
<p style="text-align: justify">The bank, based on its analysis of open interest in Bitcoin futures, observes that the market remains in overbought conditions. This situation indicates that prices for the world’s largest cryptocurrency could trend downward.</p> 
<h2 style="text-align: justify" id="the-bank-s-set-level-for-cryptocurrency-btc">The Bank’s Set Level for Cryptocurrency BTC</h2> 
<p style="text-align: justify">Bitcoin’s price, currently around $61,495, is still above the bank’s volatility-adjusted gold comparison level of $45,000 and the post-halving estimated production cost of $42,000. Historically, Bitcoin’s production cost has formed a lower boundary for the cryptocurrency <a href="https://en.coin-turk.com/bitcoins-bull-market-signals-a-late-2023-analysis/" data-wpel-link="internal">BTC</a>‘s price.</p> 
<p style="text-align: justify">JPMorgan also notes in its report that despite recent revitalization in the cryptocurrency market, venture capital funds remain stagnant. Particularly, mining companies are expected to feel the impact of the halving. Analysts expect a significant decrease in hash power and consolidation among public Bitcoin miners as unprofitable miners exit the network.</p> 
<h2 style="text-align: justify" id="post-halving-bitcoin-mining-companies">Post-Halving Bitcoin Mining Companies</h2> 
<p style="text-align: justify">The report’s authors also predict that post-halving, some Bitcoin mining firms may use inefficient mining equipment in regions with lower energy costs and evaluate these equipments.</p> 
<p><img loading="lazy" loading="lazy" decoding="async" class="wp-image-341684 size-full aligncenter" src="https://coin-turk.com/wp-content/uploads/2024/04/bitcoin-fiyati-coin-turk-com-.png" alt="" width="1822" height="801"></p> 
<p style="text-align: justify">While JPMorgan’s analysis carries an expectation of weakening in Bitcoin’s price, it emphasizes the need to closely monitor future developments related to the cryptocurrency. A decline in Bitcoin’s price could potentially impact the entire world of cryptocurrencies. Looking at the flagship of cryptocurrencies, Bitcoin, we see that at the time of writing, the price is trading at $61,418, showing some recovery from yesterday’s drop.</p> 
<h5><span style="font-weight:bold;font-size:16px">The post first appeared on COINTURK NEWS: </span> <a href="https://en.coin-turk.com/exploring-jpmorgans-latest-bitcoin-report-and-market-predictions/" data-wpel-link="internal">Exploring JPMorgan’s Latest Bitcoin Report and Market Predictions</a></h5>

Exploring JPMorgan’s Latest Bitcoin Report and Market Predictions

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