Posted 2/29/2024, 9:19:00 PM
JPMorgan: Bitcoin Price Could Fall to $42K Post-Halving as Mining Costs Rise
- JPMorgan predicts Bitcoin price could drop to $42,000 after April's halving event due to increasing production costs for miners
- Bitcoin's production cost has acted as a price floor; post-halving costs could double to $53,000
- Halving will cut miner rewards from 6.25 to 3.125 coins per block, slowing new coin creation
- Publicly traded miners may increase market share by mergers and acquisitions to stay profitable
- Analysts see signs of "frothy" Bitcoin prices, with potential for corrections to mid-$50,000s before new highs