JPMorgan claims that Bitcoin’s halving in April 2024 is already reflected in its price, and that a significant drop could be imminent.
JPMorgan also says that retail investors are driving the recent rally to $52,000, but that the upside is limited from here.
Bitcoin is expected to undergo its fourth halving in April 2024, which will reduce the block reward from 6.25 BTC to 3.125 BTC, making new coins scarcer and more valuable. Amidst this, JPMorgan said that its upcoming halving in April 2024 is already factored into its price, and that a significant drop could be imminent.
The bank also said that retail investors are driving the recent rally to $52,000, but that the upside is limited from here. Historically, Bitcoin has experienced massive price increases in the months leading up to and following its halvings, as investors anticipate higher demand and lower supply.
However, JPMorgan analysts, led by Nikolaos Panigirtzoglou, argue that this time is different, and that
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