Bitcoin Halving Approaches, JPMorgan Skeptical of Price Impact
Bitcoin Halving Expected This Weekend
The highly anticipated Bitcoin halving event is expected to occur on Friday or Saturday, April 19, 2024, at around 11:00 AM PDT. The halving event, which occurs approximately every four years, reduces the block reward for miners by half, thereby limiting the issuance of new Bitcoins.
JPMorgan Expresses Caution
Despite the excitement surrounding the halving event, JPMorgan analysts have expressed skepticism about its potential impact on Bitcoin's price. In a recent note to clients, the bank argued that the halving has been widely anticipated by investors and may not be a significant catalyst for price appreciation.
Historical Performance
Historically, Bitcoin's price has experienced significant volatility following halving events. However, it's important to note that past performance is not a guarantee of future results, and the market conditions surrounding this halving may be different from previous ones.
CoinCodex Prediction
As of the time of writing, the Bitcoin price prediction on CoinCodex forecasts that Bitcoin will trade at approximately $74,600 on May 18, 2024, one month after the halving event. However, it's crucial to emphasize that these predictions are subject to change and should not be considered as financial advice.
1
1
Comments