Bitcoin (BTCUSD) has staged a massive recovery since late 2023, surging past $73,500 on Mar. 14 to break its prior records. The robust enthusiasm goes beyond the newly launched spot Bitcoin ETFs as anticipation builds for the upcoming "halving" event in April – an occurrence projected to reduce supply and potentially propel asset prices upward.
Despite investor optimism, JPMorgan warned of a possible downturn post-halving, envisioning Bitcoin prices descending to $42,000 as the euphoria subsides. The investment bank further mentioned that the Bitcoin halving and Ethereum upgrade are “largely priced in.” On the contrary, crypto experts like JMP Securities remain bullish, forecasting a $280,000 price within three years due to ETF inflows, while Standard Chartered predicts $150,000.
