Buy Биткоин BTC
Bitcoin (BTC)
Buy Эфир ETH
Ethereum (ETH)
Buy BNB
BNB (BNB)
Buy Ripple XRP
Ripple (XRP)
Buy Tron TRX
Tron (TRX)
Buy Polygon Matik
Polygon (MATIC)
Buy Solana SOL
Solana (SOL)
Buy Dogecoin DOGE
Dogecoin (DOGE)
Buy Avalanche AVAX
Avalanche (AVAX)
Buy Cardano ADA
Cardano (ADA)
Buy Polkadot DOT
Polkadot (DOT)
Buy Syscoin SYS
Syscoin (SYS)

JPMorgan analysts forecast Bitcoin at $42,000 after halving

Bitcoin: JPMorgan analysts forecast Bitcoin at $42,000 after halving

Analysts at JP Morgan have predicted that the major digital currency could fall to as low as $42,000, The Block reports. According to them, the devaluation will occur after the expected halving of bitcoin tentatively in April 2024.

The group's financial experts expect asset values to be impacted by lower rewards for mining the digital currency, with #JP Morgan emphasizing that increased spending by miners on technological developments and infrastructure expansion will also contribute to this scenario.

According to industry experts, the upcoming #halving will lead to a more consolidated situation in cryptocurrency #mining. As analysts point out, large companies will be able to remain competitive, while smaller mining companies are likely to face operational challenges.

After bitcoin halving, the reward for mining blocks will decrease from 6.25 BTC to 3.125 BTC; as JP Morgan explained, this change is expected to negatively impact bitcoin miners' revenue.

"The $42,000 valuation is the threshold to which bitcoin prices are expected to gravitate when the initial excitement following the April bitcoin surge cools off"stated the analyst.

JP Morgan emphasized that bitcoin's #hashrate could fall by 20%. According to experts, this change will have broad implications for the entire industry.

Share this news and win 10 USDT with daily contest on CryptoFingers Telegram.
Press Releases: Gate.io Announces Lead Asia Demo Day to Empower Innovative Blockchain Projects
Gate.io, the world's leading crypto exchange, is excited to announce the Lead Asia Demo Day in Seoul, a strategic initiative aimed at propelling the future of blockchain technology..
Regulation: Binance, following MICA, will introduce restrictions on a number of stablecoins for European traders
Cryptocurrency trading platform Binance has announced that it intends to restrict access to “unauthorized stablecoins” to customers in the European Economic Area (EEA) from June 30, 2024.
Press Releases: ChainGPT Pad launches $COOKIE to introduce MarketingFi - a transparent, decentralized, and user-centric approach to marketing
$COOKIE, powered by Cookie DAO, is a token that enters the Cookie3 three-platform stack, creating a complete Cookie MarketingFi ecosystem. As the “Google Analytics” of Web3, Cookie3 helps..
Press Releases: Blockchain Life 2024 to Take Place in Dubai at the Peak of the Bull Run
The legendary Blockchain Life 2024 will return for its 13th edition on October 22-23. As Dubai gains a reputation as a global crypto hub, the forum is set to be the central event of this..