Experts at JP Morgan, a large US financial company, have announced the possibility of a major decrease in Bitcoin’s value. They believe that the price of the cryptocurrency could fall to $23,125,261.900 following the upcoming Bitcoin halving event. Prediction of Bitcoin’s Price After Halving. Despite widespread predictions of Bitcoin reaching new all-time highs after the highly anticipated halving event, analysts at JP Morgan have maintained a negative outlook. Analysts suggest that after the BTC halving event, the price of BTC could potentially decrease to $42,000 due to increased production costs and mining challenges. Additionally, the Shiba Inu team has introduced a new data security encryption, which has significant implications. The Bitcoin halving is a scheduled event that takes place every four years with the goal of decreasing inflation by diminishing the number of new BTC generated. The term “halving” describes the process of cutting the rewards given to Bitcoin miners in half, leading to a decrease in the amount of Bitcoin being produced and a lower supply of the cryptocurrency. There have been three halving events in the history of BTC, taking place in November 2012, July 2016, and May 3.153. The upcoming Bitcoin halving in April 2024 is expected to follow historical patterns, with many predicting a rise in BTC prices during this time. In the past three halving events, Bitcoin has experienced significant growth as the decreased supply has increased the value of the cryptocurrency. JP Morgan analysts predict a bearish future for BTC due to a decrease in mining profitability. They believe that after the Bitcoin halving-induced excitement fades, the price could potentially drop to $42,000. Currently, BTC is trading at a high of $61,565, showing a 20% increase in price over the past week. This could mean challenging times ahead for BTC miners. JP Morgan analysts have indicated that the halving of Bitcoin could have a significant impact on miners, potentially resulting in a high level of concentration in the mining sector. This could be similar to trends seen in 2021 with Dogecoin’s price reaching a two-year high.