{"id":590765,"date":"2024-03-01T01:00:34","date_gmt":"2024-03-01T01:00:34","guid":{"rendered":"https:\/\/wncen.com\/?p=590765"},"modified":"2024-06-11T07:54:49","modified_gmt":"2024-06-11T07:54:49","slug":"jpmorgan-analysts-predict-bitcoin-crash-post-halving","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/jpmorgan-analysts-predict-bitcoin-crash-post-halving\/","title":{"rendered":"JPMorgan Analysts Predict Bitcoin Crash To $42,000 Post-Halving – What You Need To Know"},"content":{"rendered":"

Bitcoin, the world’s largest cryptocurrency, faces<\/a> a potential downturn in its price following the anticipated halving event scheduled for April, according to analysts at JPMorgan led by Nikolaos Panigirtzoglou.<\/p>\n

This event occurs approximately every four years and is expected to slash miner rewards from 6.25 BTC per block to 3.125 BTC. As a result, JPMorgan analysts have warned that the Bitcoin price could drop toward $42,000 post-halving.<\/p>\n

Related Reading: Bitwise CEO Says Bitcoin At $250,000 Is Closer Than You Think<\/a><\/div>\n

Reason Behind The Potential Crash To $42,000<\/h2>\n

The analysts attribute this potential decline to the reduced profitability for miners and the subsequent increase in BTC production costs. The analysts disclosed that the Bitcoin production cost has historically served as a “lower bound” for its prices, with the estimated range doubling post-halving to around $53,000.<\/p>\n

Nonetheless, a potential 20% reduction in the BTC network’s hashrate looms is primarily attributed to the departure of less efficient mining rigs from the operational landscape.<\/p>\n

Consequently, this scenario may drive the estimated production cost<\/a> range to $42,000, calculated under an average electricity cost of $0.05 per kilowatt-hour (kWh).<\/p>\n

According to the analyst, Bitcoin miners with “below-average electricity costs” and “more efficient equipment” are expected to fare better following the halving event. In contrast, those with “higher production costs” may struggle to remain profitable.<\/p>\n

Consequently, analysts anticipate an increased concentration within the Bitcoin mining industry<\/a>, with publicly listed miners<\/a> likely to hold a higher share.<\/p>\n

Moreover, there is the prospect of “horizontal integration” via “mergers and acquisitions” among miners spanning different regions, aiming to leverage “synergies and minimize” collective operational expenses.<\/p>\n

Related Reading: Bitcoin Sees Massive Sell-Off From Miners, As Price Holds Steady<\/a><\/div>\n

Bitcoin Market Sentiments And Potential Surge<\/h2>\n

Meanwhile, as JPMorgan analysts suggest a potential drop in Bitcoin’s price post-halving, Hunter Horsley, CEO of Bitwise, remains optimistic about Bitcoin’s long-term outlook. Horsley predicts that the cryptocurrency will surge to $250,000 sooner<\/a> than anticipated.<\/p>\n

\n

Bitcoin is going to eat into gold’s TAM faster than people expect.<\/p>\n

$250k Bitcoin could happen much sooner than most who’ve followed the space for years would imagine.<\/p>\n

Why? For 15 years, Bitcoin proved it’s merits but was only accessible to some.<\/p>\n

Bitcoin ETFs were Bitcoin’s\u2026<\/p>\n

\u2014 Hunter Horsley (@HHorsley) February 28, 2024<\/a><\/p><\/blockquote>\n

Meanwhile, many metrics within the BTC market signal a potential surge for Bitcoin. On-chain data reveals that the Bitcoin MVRV ratio has reached levels reminiscent of the parabolic bull run<\/a> experienced in 2020, suggesting a forthcoming surge may be imminent.<\/p>\n

\n

MVRV hit 2.5, indicating a +150% average profit for all #Bitcoin<\/a> wallets.<\/p>\n

In Nov 2020, MVRV was 2.5 at $18K, preceding the all-time high and parabolic bull run.https:\/\/t.co\/cx8nYhNeeI<\/a> pic.twitter.com\/PgRLietkkz<\/a><\/p>\n

\u2014 Ki Young Ju (@ki_young_ju) 2<\/a><\/p><\/blockquote>\n

Amid these varying forecasts and market sentiments, BTC trades at $63,391, marking a slight retracement from its recent peak above $64,000 – the highest level traded in the past two years.<\/p>\n

Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"excerpt":{"rendered":"

Bitcoin, the world’s largest cryptocurrency, faces a potential downturn in its price following the anticipated halving event scheduled for April, according to analysts at JPMorgan led by Nikolaos Panigirtzoglou. This event occurs approximately every four years and is expected to slash miner rewards from 6.25 BTC per block to 3.125 BTC. As a result, JPMorgan analysts have warned that the Bitcoin price could drop toward $42,000 post-halving. Related Reading: Bitwise CEO Says Bitcoin At $250,000 Is Closer Than You Think Reason Behind The Potential Crash To $42,000 The analysts attribute this potential decline to the reduced profitability for miners and the subsequent increase in BTC production costs. The analysts disclosed that the Bitcoin production cost has historically served as a “lower bound” for its prices, with the estimated range doubling post-halving to around $53,000. Nonetheless, a potential 20% reduction in the BTC network’s hashrate looms is primarily attributed to the departure of less efficient mining rigs from the operational landscape. Consequently, this scenario may drive the estimated production cost range to $42,000, calculated under an average electricity cost of $0.05 per kilowatt-hour (kWh). According to the analyst, Bitcoin miners with “below-average electricity costs” and “more efficient equipment” are expected to fare better following the halving event. In contrast, those with “higher production costs” may struggle to remain profitable. Consequently, analysts anticipate an increased concentration within the Bitcoin mining industry, with publicly listed miners likely to hold a higher share. Moreover, there is the prospect of “horizontal integration” via “mergers and acquisitions” among miners spanning different regions, aiming to leverage “synergies and minimize” collective operational expenses. Related Reading: Bitcoin Sees Massive Sell-Off From Miners, As Price Holds Steady Bitcoin Market Sentiments And Potential Surge Meanwhile, as JPMorgan analysts suggest a potential drop in Bitcoin’s price post-halving, Hunter Horsley, CEO of Bitwise, remains optimistic about Bitcoin’s long-term outlook. Horsley predicts that the cryptocurrency will surge to $250,000 sooner than anticipated. Bitcoin is going to eat into gold’s TAM faster than people expect. $250k Bitcoin could happen much sooner than most who’ve followed the space for years would imagine. Why? For 15 years, Bitcoin proved it’s merits but was only accessible to some. Bitcoin ETFs were Bitcoin’s\u2026 \u2014 Hunter Horsley (@HHorsley) February 28, 2024 Meanwhile, many metrics within the BTC market signal a potential surge for Bitcoin. On-chain data reveals that the Bitcoin MVRV ratio has reached levels reminiscent of the parabolic bull run experienced in 2020, suggesting a forthcoming surge may be imminent. MVRV hit 2.5, indicating a +150% average profit for all #Bitcoin wallets. In Nov 2020, MVRV was 2.5 at $18K, preceding the all-time high and parabolic bull run.https:\/\/t.co\/cx8nYhNeeI pic.twitter.com\/PgRLietkkz \u2014 Ki Young Ju (@ki_young_ju) 2 Amid these varying forecasts and market sentiments, BTC trades at $63,391, marking a slight retracement from its recent peak above $64,000 – the highest level traded in the past two years. Featured image from Unsplash, Chart from TradingView<\/p>\n","protected":false},"author":580,"featured_media":538164,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[3],"tags":[428,8856,1119,78790,6664,2628],"class_list":["post-590765","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-bitcoin","tag-bitcoin-halving","tag-btc","tag-btcusdt","tag-crypto","tag-jpmorgan"],"acf":[],"yoast_head":"\nJPMorgan Analysts Predict Bitcoin Crash To $42,000 Post-Halving - What You Need To Know<\/title>\n<meta name=\"description\" content=\"Bitcoin, the world's largest cryptocurrency, faces a potential downturn in its price following the anticipated halving event scheduled for...\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/wncen.com\/news\/jpmorgan-analysts-predict-bitcoin-crash-post-halving\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"JPMorgan Analysts Predict Bitcoin Crash To $42,000 Post-Halving - 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. 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HIM-buktu. A web3 content writer, journalist, and aspiring trader, Edyme is as versatile as they come. With a knack for words and a nose for trends, he has penned pieces for numerous industry player, including AMBCrypto, Blockchain.News, and Blockchain Reporter, among others. Edyme\u2019s foray into the crypto universe is nothing short of cinematic. His journey began not with a triumphant investment, but with a scam. Yes, a Ponzi scheme that used crypto as payment roped him in. Rather than retreating, he emerged wiser and more determined, channeling his experience into over three years of insightful market analysis. Before becoming the voice of reason in the crypto space, Edyme was the quintessential crypto degen. He aped into anything that promised a quick buck, anything ape-able, learning the ropes the hard way. These hands-on experience through major market events\u2014like the Terra Luna crash, the wave of bankruptcies in crypto firms, the notorious FTX collapse, and even CZ\u2019s arrest\u2014has honed his keen sense of market dynamics. When he isn\u2019t crafting engaging crypto content, you\u2019ll find Edyme backtesting charts, studying both forex and synthetic indices. His dedication to mastering the art of trading is as relentless as his pursuit of the next big story. Away from his screens, he can be found in the gym, airpods in, working out and listening to his favorite artist, NF. Or maybe he\u2019s catching some Z\u2019s or scrolling through Elon Musk\u2019s very own X platform\u2014(oops, another screen activity, my bad\u2026) Well, being an introvert, Edyme thrives in the digital realm, preferring online interaction over offline encounters\u2014(don\u2019t judge, that\u2019s just how he is built). His determination is quite unwavering to be honest, and he embodies the philosophy of continuous improvement, or \u201ckaizen,\u201d striving to be 1% better every day. His mantras, \u201cGod knows best\u201d and \u201cEverything is still on track,\u201d reflect his resilient outlook and how he lives his life. In a nutshell, Samuel Edyme was born efficient, driven by ambition, and perhaps a touch fierce. He\u2019s neither artistic nor unrealistic, and certainly not chauvinistic. Think of him as Bruce Willis in a train wreck\u2014unflappable. Edyme is like trading in your car for a jet\u2014bold. He\u2019s the guy who\u2019d ask his boss for a pay cut just to prove a point\u2014(uhhh\u2026). He is like watching your kid take his first steps. Imagine Bill Gates struggling with rent\u2014okay, maybe that\u2019s a stretch, but you get the idea, yeah. Unbelievable? Yes. Inconceivable? Perhaps. Edyme sees himself as a fairly reasonable guy, albeit a bit stubborn. Normal to you is not to him. He is not the one to take the easy road, and why would he? That\u2019s just not the way he roll. He has these favorite lyrics from NF\u2019s \u201cClouds\u201d that resonate deeply with him: \u201cWhat you think's probably unfeasible, I've done already a hundredfold.\u201d PS\u2014Edyme is HIM. HIM-buktu. Him-mulation. Him-Kardashian. Himon and Pumba. He even had his DNA tested, and guess what? He\u2019s 100% Him-alayan. Screw it, he ate the opp.","sameAs":["https:\/\/x.com\/0xEdyme"],"url":"https:\/\/wncen.com\/author\/samueledymeabayomi\/"}]}},"parsely":{"version":"1.1.0","meta":{"@context":"https:\/\/schema.org","@type":"NewsArticle","headline":"JPMorgan Analysts Predict Bitcoin Crash To $42,000 Post-Halving – What You Need To Know","url":"http:\/\/wncen.com\/news\/jpmorgan-analysts-predict-bitcoin-crash-post-halving\/","mainEntityOfPage":{"@type":"WebPage","@id":"http:\/\/wncen.com\/news\/jpmorgan-analysts-predict-bitcoin-crash-post-halving\/"},"thumbnailUrl":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200","image":{"@type":"ImageObject","url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282"},"articleSection":"Cryptocurrency Market News","author":[{"@type":"Person","name":"Samuel Edyme"}],"creator":["Samuel Edyme"],"publisher":{"@type":"Organization","name":"NewsBTC","logo":"https:\/\/wncen.com\/wp-content\/uploads\/2020\/06\/cropped-cropped-cropped-favicon.png?w=32"},"keywords":["bitcoin","bitcoin halving","btc","btcusdt","crypto","jpmorgan"],"dateCreated":"2024-03-01T01:00:34Z","datePublished":"2024-03-01T01:00:34Z","dateModified":"2024-06-11T07:54:49Z"},"rendered":"<script type=\"application\/ld+json\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@type\":\"NewsArticle\",\"headline\":\"JPMorgan Analysts Predict Bitcoin Crash To $42,000 Post-Halving – What You Need To Know\",\"url\":\"http:\\\/\\\/wncen.com\\\/news\\\/jpmorgan-analysts-predict-bitcoin-crash-post-halving\\\/\",\"mainEntityOfPage\":{\"@type\":\"WebPage\",\"@id\":\"http:\\\/\\\/wncen.com\\\/news\\\/jpmorgan-analysts-predict-bitcoin-crash-post-halving\\\/\"},\"thumbnailUrl\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?resize=200%2C200\",\"image\":{\"@type\":\"ImageObject\",\"url\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2023\\\/06\\\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282\"},\"articleSection\":\"Cryptocurrency Market News\",\"author\":[{\"@type\":\"Person\",\"name\":\"Samuel Edyme\"}],\"creator\":[\"Samuel Edyme\"],\"publisher\":{\"@type\":\"Organization\",\"name\":\"NewsBTC\",\"logo\":\"https:\\\/\\\/wncen.com\\\/wp-content\\\/uploads\\\/2020\\\/06\\\/cropped-cropped-cropped-favicon.png?w=32\"},\"keywords\":[\"bitcoin\",\"bitcoin halving\",\"btc\",\"btcusdt\",\"crypto\",\"jpmorgan\"],\"dateCreated\":\"2024-03-01T01:00:34Z\",\"datePublished\":\"2024-03-01T01:00:34Z\",\"dateModified\":\"2024-06-11T07:54:49Z\"}<\/script>","tracker_url":"https:\/\/cdn.parsely.com\/keys\/wncen.com\/p.js"},"jetpack_sharing_enabled":true,"jetpack_featured_media_url":"https:\/\/wncen.com\/wp-content\/uploads\/2023\/06\/andre-francois-mckenzie-iGYiBhdNTpE-unsplash-2.jpg?fit=1920%2C1282","amp_enabled":true,"_links":{"self":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/590765"}],"collection":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/users\/580"}],"replies":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/comments?post=590765"}],"version-history":[{"count":0,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/posts\/590765\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media\/538164"}],"wp:attachment":[{"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/media?parent=590765"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/categories?post=590765"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/wncen.com\/wp-json\/wp\/v2\/tags?post=590765"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}