Bitcoin Halving Seen Mostly Priced in by JPMorgan, Deutsche Bank [BNN Bloomberg (Canada)]
JP Morgan Chase & Co. (JPM)
Last jp morgan chase & co. earnings: 4/14 06:43 am
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Source: BNN Bloomberg
called the “halving” that has long been touted as one of the keys to propping up the cryptocurrency's value is pretty much priced in. Rather than on the token's price, the main implication would be on Bitcoin mining, JPMorgan analysts wrote in a note dated Thursday. As unprofitable miners exit the Bitcoin network, they expect the sector to consolidate, with publicly-traded firms the best positioned to gain market share. “Publicly-listed Bitcoin miners are well positioned to take advantage of the new environment, mainly due to greater access to funding and in particular equity financing,” JPMorgan analysts wrote. “This helps them to scale their operations and invest into more efficient equipment.” Similarly, Deutsche Bank analysts do not expect Bitcoin prices to increase significantly following the halving. Since the Bitcoin algorithm has already anticipated the halving, this event has already been factored in the market, the analysts said. The event reduced the so-called minin
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