Bitcoin's 2024 Halving Set To Surge Production Costs, Injecting Investor Confidence: JPMorgan Report
Portfolio Pulse from Murtuza Merchant
JPMorgan's research paper predicts continued enthusiasm for Bitcoin from individual investors leading up to the 2024 halving event, which will push production costs to around $40,000, instilling investor confidence. However, institutional interest in Bitcoin seems to be declining due to factors such as fraud allegations, increased volatility, and regulatory scrutiny.
June 05, 2023 | 3:42 pm
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NEUTRAL IMPACT
JPMorgan's research paper on Bitcoin's 2024 halving event predicts increased retail investor interest, but declining institutional interest due to factors such as fraud allegations and regulatory scrutiny.
The research paper by JPMorgan is likely to have a neutral impact on the bank's stock price, as it provides valuable insights into the cryptocurrency market, but also highlights the declining institutional interest in Bitcoin, which could affect the bank's cryptocurrency-related services.
CONFIDENCE 90
IMPORTANCE 60
RELEVANCE 100