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Bitcoin’s Outperformance Means Some of Expected Post-Halving Rally May Have Come Early: JPMorgan

Recent weakness in mining stocks ahead of the bitcoin (BTC) halving offers an attractive entry point for investors, JPMorgan (JPM) said in a research report on Tuesday. The total market cap of the 14 U.S.-listed bitcoin miners tracked by the bank fell 28%, or $5.8 billion, to $14.2 billion, from March 31 to April 15, the report said. All of the stocks underperformed bitcoin and all lost at least 20%. The quadrennial reward halving slows the rate of growth in bitcoin supply and is expected to occur around April 19-20.

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