According to a research report by JPMorgan, retail demand for Bitcoin is expected to remain strong in the lead-up to the next halving event, scheduled for April 2024.
JPMorgan Report Says Retail Demand for Bitcoin Expected to Remain Strong as Halving Approaches
While institutional demand for Bitcoin has declined due to concerns over fraud, heightened volatility, and regulatory uncertainties, retail investors continue to view Bitcoin as an attractive investment option. JPMorgan previously highlighted the rally of both gold and Bitcoin following the collapse of Silicon Valley Bank, with institutional investors favoring gold as a hedge against catastrophic scenarios, while retail investors turned to Bitcoin. The upcoming halving event and its impact on production cost are expected to bolster retail investor interest in Bitcoin leading up to April 2024.