{"id":11202,"date":"2024-02-29T20:03:16","date_gmt":"2024-02-29T18:03:16","guid":{"rendered":"https:\/\/forklog.com\/en\/jpmorgan-analysts-predict-bitcoin-correction-to-42000-post-halving\/"},"modified":"2024-02-29T20:03:16","modified_gmt":"2024-02-29T18:03:16","slug":"jpmorgan-analysts-predict-bitcoin-correction-to-42000-post-halving","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/jpmorgan-analysts-predict-bitcoin-correction-to-42000-post-halving\/","title":{"rendered":"JPMorgan Analysts Predict Bitcoin Correction to $42,000 Post-Halving"},"content":{"rendered":"<p>The upcoming halving in April could trigger a sharp decline in the price of the leading cryptocurrency, reports <a href=\"https:\/\/www.theblock.co\/post\/279833\/jpmorgan-bitcoin-price-april-halving\">The Block<\/a>, citing experts from JPMorgan.\u00a0<\/p>\n<p>The algorithmically programmed reduction in rewards from 6.25 BTC to 3.125 BTC will decrease mining profitability. The financial institution&#8217;s report notes that the cost of production influences the price of digital gold. Based on this, a group of analysts led by Nikolaos Panigirtzoglou forecasts that the price will drop to $42,000 after the halving.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThe cost of mining bitcoin has empirically acted as a floor for prices,\u201d the specialists emphasized.<\/cite><\/p><\/blockquote>\n<p>According to their estimates, the current production cost of the leading cryptocurrency is $26,500. After the halving, this figure will be $42,000.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThis is also the level to which we believe the price will gravitate once the post-halving euphoria subsides in April,\u201d noted JPMorgan.<\/cite><\/p><\/blockquote>\n<p>Experts also suggested the possibility of a 20% drop in the bitcoin network&#8217;s hash rate, primarily due to the mass shutdown of inefficient equipment. Consequently, mining power may concentrate among large cryptocurrency miners who have taken steps to reduce costs and maintain efficiency.<\/p>\n<blockquote class=\"wp-block-quote is-layout-flow wp-block-quote-is-layout-flow\"><p>\n<cite>\u201cThere may also be some horizontal integration through mergers and acquisitions among miners in different regions to capitalize on synergies in their business,\u201d the specialists concluded.<\/cite><\/p><\/blockquote>\n<p>Earlier, Matrixport co-founder Daniel Yan predicted a \u201chealthy\u201d market correction of approximately 15%.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The upcoming halving in April could trigger a sharp decline in the price of the leading cryptocurrency, reports The Block, citing experts from JPMorgan.\u00a0 The algorithmically programmed reduction in rewards from 6.25 BTC to 3.125 BTC will decrease mining profitability. The financial institution&#8217;s report notes that the cost of production influences the price of digital [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":11201,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"","news_style_id":"","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[480,160],"class_list":["post-11202","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-bitcoin-price","tag-halving"],"aioseo_notices":[],"amp_enabled":true,"views":"36","promo_type":"","layout_type":"","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11202","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=11202"}],"version-history":[{"count":0,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/11202\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/11201"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=11202"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=11202"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=11202"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}