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<p><span style="font-weight: 400;">The </span><a href="https://insidebitcoins.com/news/coinbase-crashes-on-surging-trading-volume-as-bitcoin-soars-to-2021-high" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin</span></a><span style="font-weight: 400;"> price might slump to $42,000 in the aftermath of the upcoming BTC halving event in April, JPMorgan said.</span></p>
<p><a href="https://www.jpmorgan.com/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">JPMorgan</span></a><span style="font-weight: 400;"> analysts led by Nikolaos Panigirtzoglou wrote in a Feb. 28 note that the </span><span style="font-weight: 400;">BTC production cost “has empirically acted as a lower bound” for BTC’s price.</span></p>
<p>The central point of its estimate for that production cost range now stands at $26,500, which would mechanically double post the Bitcoin halving to $53,000, they say.</p>
<p>But there may be a 20% fall in the Bitcoin network’s hashrate after the BTC halving, which would lower the central point of its estimated production cost range to $42,000, it said.</p>
<p data-v-02bbd79b="">“This $42,000 estimate is also the level we envisage bitcoin prices drifting towards once bitcoin-halving-induced euphoria subsides after April,” said the analysts</p>
<p><img decoding="async" src="https://bisonapp.com/wp-content/uploads/2020/02/bitcoin-mining.jpg" alt="What Actually Is… Bitcoin Mining? - BISON App"></p>
<h2 id="span-style-font-weight-400-less-efficient-bitcoin-mining-operations-will-likely-close-down-span"><span style="font-weight: 400;">Less Efficient Bitcoin Mining Operations Will Likely Close Down</span></h2>
<p><span style="font-weight: 400;">The analysts went on to speculate that miners with below-average electricity costs and more optimized mining setups are likely to survive after the halving event, while those with higher production costs would struggle.</span></p>
<p><span style="font-weight: 400;">The potential exit of smaller and less-efficient minings operations will make the BTCn mining industry more concentrated as well, they added. This may subsequently boost the market share of publicly listed BTC miners.</span></p>
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 <p lang="en" dir="ltr">According to The Block, JP Morgan predicted in a report on the 28th (local time) that "Bitcoin could fall to $42,000 after the halving in April." Analyst Nikolaos Panigirtzoglou stated that the halving would reduce miner rewards from 6.25 BTC to 3.125 BTC per block, impacting…</p>
 <p>— BitcoinWorld Media (@ItsBitcoinWorld) <a href="https://twitter.com/ItsBitcoinWorld/status/1763202144696418744?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">February 29, 2024</a></p>
</blockquote>
<p><script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script></p>
<p><span style="font-weight: 400;">The historic halving event will come hard on the heels of the approval of spot </span><a href="https://insidebitcoins.com/news/blackrock-bitcoin-etf-volumes-top-1-billion-for-a-second-consecutive-day-as-btc-targets-60k" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">Bitcoin ETFs</span></a><span style="font-weight: 400;"> (exchange-traded funds) in the US at the start of the year. </span></p>
<p><span style="font-weight: 400;">The launch of these investment products unlocked a wave of institutional investment for BTC that caused the crypto to surge. </span></p>
<p><span style="font-weight: 400;">Over the past 30 days, Bitcoin has </span><a href="https://coinmarketcap.com/currencies/bitcoin/" rel="noopener noreferrer nofollow"><span style="font-weight: 400;">skyrocketed</span></a><span style="font-weight: 400;"> over 47% to trade at $62,193.06 as of 5:25 a.m. EST.</span></p>
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Bitcoin May Slump To $42K After The BTC Halving, JPMorgan Says

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