JPMorgan Bank predicted that digital assets would continue to lose money after this critical event. Bitcoin halving. In fact, even the investment bank stated that it is “already priced in” It is set to hit the market this week.
The bank warned that the asset would continue to drop despite widespread market anticipation. The asset’s price has been stable over the past 24 hours. It is currently trading at just below $6,300, according to CoinMarketCap. The market has suffered a massive loss in all areas over the last seven days.
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JPMorgan: Bitcoin Halving is a Good Idea “Already Priced In”
Bitcoin’s halving is one of most significant events on the market for digital assets. Every four years the supply of BTC is cut in half. The asset’s value increases over time.
In 2024 there is still some uncertainty about the impact Bitcoin will have on the market. JPMorgan, for example, has forecasted that Bitcoin halving will cause further market losses. Specifically, The Block Nikolaos Pagirtzoglou is the bank analyst who stated that prices are expected to rise. “already priced in.”
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The analyst also said:” in fact, we see a downside for the bitcoin price post-halving for several reasons.” Included in this is the addition of “overbought conditions” Face the asset on the market. This is evident in the analysis by the bank of Bitcoin futures.
After reaching a high of $73,000 at the end of March, this asset is down more than 1,2% in one month. This Friday, 19th April, is the date of the Bitcoin Halving Event. The industry is also hopeful that the event will reverse an April downtrend.
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Source: watcher.guru
