JP Morgan: Bitcoin could fall to $42,000 after halving
According to a report from investment bank JPMorgan, Bitcoin (BTC) is still in overbought territory. Cryptocurrency has been suffering losses since the beginning of this week. On Thursday, Bitcoin's position improved slightly, but by Friday, BTC had fallen to $64,808. JPMorgan analysts predict that pressure will increase in the coming days. They do not rule out the possibility that if sellers become more active, Bitcoin could fall below $50,000. Pressure will not decrease after the halving, but will increase. Therefore, digital currency may fall to $42,000. JPMorgan's research director, Nikolaos Panigirtzoglou, said that futures prices are still higher than spot prices, suggesting that the asset is overbought.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin dips below $100,000, memecoins plummet as market responds to US tariffs
The crypto market has dipped in response to President Trump’s plan to enact steep tariffs on imported goods from Canada, Mexico, and China beginning on Tuesday.Canada and Mexico have ordered retaliatory tariffs in response, while China promised “corresponding countermeasures” and said it would file a lawsuit with the WTO.Memecoins were particularly hard-hit by the downturn, with many top coins seeing double-digit percentage drops. Trump’s memecoin has fallen nearly 30% over the past week.
Ethereum Price Dips, Yet Increased Buying Activity Indicates Promising Future
Despite Bearish Trends, Increased Buying Activity Hints at Potential Breakout for Leading Altcoin, Ethereum
Overview: SOL vs ETH – Deciphering Key Aspects of the Solana-Ethereum Ratio
Untangling the SOL/ETH Dynamics: An In-Depth Look at Solana's Potential for Recovery Following Its Recent 25% Decline
Two Whales Messed Up on Two Different Altcoins – Forced to Sell at a Huge Loss on the Last Drop
According to Onchain data, two different crypto whales sold their positions after losing on two altcoins. Here are the details.
Trending news
MoreCrypto prices
More
