Among the topics discussed recently, the declines in Bitcoin and altcoins and the highly anticipated halving event are undoubtedly at the top of the list.
At this point, while investors expect the rise to continue, JP Morgan analysts said that Bitcoin's superior performance so far may mean that some of the typical post-halving rally has been brought forward.
The report written by JP Morgan analysts Reginald Smith and Charles Pearce pointed out that Bitcoin showed a superior performance before the halving.
“Bitcoin has gained 43% since the beginning of the year and 130% in the last six months. This means that the typical post-halving rally in BTC has been brought forward.”
“Bitcoin Offers Attractive Entry Point for Investors!”
JPMorgan analysts also noted that mining stocks were falling ahead of the BTC halving and said that this weakness in stocks offers an attractive entry point for investors.
At this point, analysts stated that they were bullish on Bitcoin mining companies Riot Platforms (RIOT) and Iris Energy (IREN) and said:
“With the Bitcoin halving on the horizon, we expect volatility and trading volume to increase in both Bitcoin and mining stocks.”
*This is not investment advice.
