JP Morgan Analysts Forecast Bitcoin Price Decline After Halving Event
Thursday, 29 February 2024, 23:54
JPMorgan Analysts Forecast Bitcoin Price Decline Post Halving
JPMorgan analysts have projected a downward trend in Bitcoin's price following the halving event. The reduction in miners' rewards and the subsequent increase in production costs are anticipated to impact Bitcoin's valuation.
Key Points:
- Reduction in Miners' Rewards: From 6.25 BTC to 3.125 BTC per block
- Impact on Production Costs: Higher production costs influencing Bitcoin's price
- Potential Hash Rate Decline: Expected decrease post-halving may lower production cost range
According to JPM analysts, the estimated production cost for Bitcoin could potentially double from $26,500 to $53,000 post-halving event, with a potential price floor near $42,000.
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