New Bitcoin Report from JP Morgan! “This Event Will Raise BTC Price!”

bitcoin And cryptocurrency notable for its analysis of the market JP Morgan’A new report has come from

According to the news of Coindesk, JP Morgan analysts, who discussed Bitcoin and the upcoming halving event in their latest report, stated that the halving, which is expected to take place in April 2024, BTC He stated that he will double the production cost to about $40,000, which will have a positive impact on the BTC price.

JP Morgan analysts led by Nikolaos Panigirtzoglou His report included the following statements:

“We think retail demand for Bitcoin will remain strong over the next year ahead of the next halving.

While the recent surge in retail demand is partly due to the emergence of Bitcoin Ordinals and the BRC-20 tokens, we expect retail, retail investors’ demand for BTC to increase further as the April 2024 halving approaches.

The reason the upcoming halving has a positive impact on BTC price is because historically the cost of production has served as an effective lower bound for the BTC price.”

Analysts, who also refer to the previous halving events that took place in 2016 and 2020, said that after the halving event, an upward trend was seen in Bitcoin. BTC stated that the price increase was accelerating.

Analysts finally addressed institutional demand. Analysts pointed out that while retail demand increased, institutional demand decreased. “In turn, institutional demand for Bitcoin is falling as investors have been discouraged by increased uncertainty, fraud, increased volatility and increased US regulatory pressure since early 2023.” said.

*Not investment advice.