JPMorgan Chase: Bitcoin price expected to fall after halving

Odaily Odaily News JPMorgan said in a research report on Wednesday that the price of Bitcoin may weaken after the halving. The investment bank's analysis of open positions in Bitcoin futures contracts shows that after the halving, it believes that Bitcoin will go down as the market is still overbought. In addition, the current Bitcoin price of about $61,200 is still higher than the bank's pricing of $45,000, while the expected production cost after the halving is $42,000. The report also added that after the halving event, some Bitcoin mining companies may also seek to diversify into low-energy cost regions such as Latin America or Africa, and deploy less efficient mining machines to obtain recovery value from those originally idle mining machines. (CoinDesk)