JPMorgan Predicts Bitcoin Correction Once Halving Euphoria Cools

From bnnbloomberg.ca

One of the most anticipated catalysts for further gains in Bitcoin may end up sending the price of the largest cryptocurrency lower, according to JPMorgan analysts. A Bitcoin code update in April called “the halving” that will reduce the amount of tokens issued daily by half to about 450 is being cited by advocates as leading to a supply shortage. Bitcoin has jumped about 45% this year to around $62,000, with demand surging from exchange-traded funds approved in January. The price of Bitcoin has historically increased after a halving event, with so-called miner production cost functioning as a lower bound to the ... (full story)