JPMorgan Warns of Potential Bitcoin Price Decline Following Halving Event

JPMorgan warns that despite the anticipation surrounding Bitcoin's halving event, the cryptocurrency could face a decline in price shortly afterward. Scheduled around April 19-20, the halving reduces the reward for miners, but JPMorgan's analysis of Bitcoin futures indicates that the market is currently overbought. This overbought condition, coupled with low venture capital funding and potential challenges for mining companies post-halving, could contribute to downward pressure on Bitcoin's price. The bank suggests that mining firms may consider relocating to regions with lower energy costs or consolidating operations to cope with reduced rewards.