Bitcoin Halving Seen Mostly Priced In by JPMorgan, Deutsche Bank
- The main implication will be on Bitcoin mining, JPMorgan says
- Deutsche Bank still expects Bitcoin prices to remain high
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With just a day or so to go, JPMorgan Chase & Co and Deutsche Bank AG say that the once-every-four-years Bitcoin software update 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.