Bitcoin halving in April may lower miner profits due to reduced rewards and higher costs, potentially leading to price drops.
JPMorgan predicts Bitcoin’s production cost could hit $42,000 post-halving, affecting miners with higher expenses.
Analysts at JPMorgan have forecast that the halving of Bitcoin in April may result in a decline in miners’ profitability and subsequent volatility in cryptocurrency pricing. The reduction in rewards for miners, coupled with increased production costs, may exert downward pressure on Bitcoin prices, according to a research report released by the bank on February 28.
Bitcoin’s production cost has historically been a crucial determinant of its price floor. JPMorgan’s analysis suggests this cost could plummet to $42,000 following the halving event. The bank’s central estimate places the pre-halving production cost at approximately $26,500, expected to double to $53,000 post-halving. However, a potential 20% decline in the network’s hashrate a

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