Summary
TLDR: Bitcoin is set to undergo its halving event, cutting rewards for miners in half. JP Morgan analysts believe the event has already been priced in and may not lead to price increases. Larger miners are better positioned to weather the change, leading to fewer coins on the market. Bitcoin’s price has dropped recently due to various factors.
Key Points
1. The halving event for Bitcoin is expected to happen in just over 24 hours, which will cut the rewards for miners in half and slow down the creation of new coins.
2. JP Morgan analysts believe that the price increase post-halving has already been priced in, and they do not expect significant price surges as a result of the event.
3. The financial giant also mentioned that a lack of venture capital funding in the crypto space could contribute to keeping the Bitcoin value lower.