JPMorgan: Bitcoin to Fall to $42K After Halving

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The upcoming halving event in April could potentially lead to a significant decrease in the price of the first cryptocurrency, according to a report by JPMorgan.

The reduction in the mining reward from 6.25 BTC to 3.125 BTC will decrease the profitability of mining, which could have a direct impact on the price of Bitcoin.

Based on their analysis, a team of experts led by Nikolaos Panigirtzoglou predicts that the price could fall to $42,000 after the halving event.

The report also highlights the importance of the cost of production in determining the price of Bitcoin, with the current production cost estimated at $26,500 and expected to rise to $42,000 after halving.

While there may be an initial surge in price due to the excitement surrounding halving, JPMorgan believes that the price will eventually settle around the $42,000 mark once the hype dies down in April.