According to JPMorgan analysts, the price of Bitcoin could reach up to $45,000. JPMorgan analyst Nikolaos Panigirtzoglou said: "The rising price of gold and held for investment purposes outside central banks, would imply a rise in the price of Bitcoin, calculable around $45,000 in certain proportions.
Previous halving events in 2016 and 2020 were accompanied by an uptrend for the price of Bitcoin, which accelerated right after the halving." JPMorgan assumes a 25% return on Bitcoin in the next 12 months, precisely because in this period of time the halving expected in 2024 would be anticipated.
The upcoming Bitcoin halving will see the block reward halve from 6.25 to 3.125 BTC.
JP Morgan talked also about Ethereum: "We expect Ethereum to underperform Bitcoin somewhat in the near term."
Something about Bitcoin
The Bitcoin network allows for the pseudo-anonymous possession and transfer of coins; the data necessary to use one's bitcoins can be saved on one or more personal computers or electronic devices such as smartphones, in the form of a digital wallet, or kept with third parties that perform functions similar to a bank.
The bitcoin wallet has an address identified by an alphanumeric code which has between 25 and 36 characters between numbers and letters; it is the only data to be communicated to receive a payment that will enjoy a certain degree of anonymity, but will be publicly and immutably visible on the blockchain forever.
You must be very careful when transmitting the alphanumeric code as any errors do not allow you to cancel the operation and cause the loss of money. You can receive payments more simply by scanning QR codes. In any case, bitcoins can be transferred across the Internet to anyone with a bitcoin address.
The peer-to-peer structure of the Bitcoin network and the lack of a central body make it impossible for any authority, governmental or otherwise, to block transfers, seize bitcoins without possession of the relevant keys or devalue due to the entry of new currency.
Unlike most traditional currencies, Bitcoin does not use a central body or sophisticated financial mechanisms, the value is determined solely by the supply and demand leverage. It uses a database distributed among network nodes that keep track of transactions, but uses cryptography to manage functional aspects, such as the generation of new currency and the attribution of ownership of bitcoins.
Bitcoin in the media: financial marketing strategy
Bitcoin Holds Steady Amidst Accumulation: What the Analysts are Saying
Bitcoin Halving: A Comprehensive Guide to the Cycles, Dates and Impact on Prices
Bitcoin Remains Unfazed Amid U.S. Macroeconomic News and Market Volatility
Bitcoin's Response to Global Monetary Tides: Jamie Coutts Weighs In
Bitcoin Stabilizes Around $26,500: What Lies Ahead?