Bitcoin Likely to Drop After the Halving, JPMorgan Says The b | Bitcoin & Crypto Trading
Bitcoin Likely to Drop After the Halving, JPMorgan Says
The bitcoin (BTC) price is likely to weaken after the reward halving, a quadrennial event that slows the rate of growth in bitcoin supply and looks set to occur around April 19-20, Wall Street giant JPMorgan (JPM) said in a research report on Wednesday. The bank sees downside for the world’s largest cryptocurrency after the halving because the market is still in overbought conditions, according to its analysis of open interest in bitcoin futures.
