Two of America’s largest banks are urging crypto investors to remain cautious around the upcoming Bitcoin halving, which analysts believe may not play out much like prior cycles.
In a Wednesday report, JPMorgan predicted that Bitcoin’s price will not rise following the event, and is more likely to resume declines that began earlier this month.
Could The Halving Be Bearish For Bitcoin?
The bank’s outlook remains consistent with its relatively bearish forecasts throughout the year, refusing to be swayed by growing optimism around Bitcoin spot ETFs or the halving.
“We do not expect bitcoin price increases post-halving as it has already been priced in,” wrote analysts led by Nikolaos Panigirtzoglou. “In fact, we see a downside for the bitcoin price post-halving for several reasons.”
The analyst used the price of gold as a reference point, as both assets share a similar investment thesis as a risk-off store of value and inflation hedge. On a volatility-adjusted basis, the bank
We współpracy z: https://cryptopotato.com/jpmorgan-and-goldman-sachs-issue-bearish-warning-before-bitcoin-halving/
