According to TechFlow, JPMorgan analysts pointed out that Bitcoin's upcoming halving event could cause a sharp drop in prices. The halving will halve the rewards for miners, which will affect their profitability and increase the production cost of Bitcoin. Analysts predict that the price will be around $42,000 after the halving.
However, they warned that the Bitcoin network hashrate could drop by 20% after the halving, which could further reduce production costs to $42,000.
Analysts say that after the halving, the concentration of the mining industry will increase, and publicly listed Bitcoin miners will have a more competitive advantage.
