BitcoinConstraining supply sounds like a move that would spur a bullish market, but America’s biggest bank says it’s not so simple. In a Thursday note cited by Bloomberg, JP Morgan analysts said that the oldest and largest digital asset has already been overbought.“We do not expect Bitcoin price increases post-halving as it has already been priced in,” they concluded, according to The financial giant added that a lack of venture capital funding in the crypto space will also contribute to a lower BTC value. The MinersThis means miners will have to work more efficiently to remain profitable. The JP Morgan report says larger players can weather the change.“Publicly-listed Bitcoin miners are well positioned to take advantage of the new environment, mainly due to greater access to funding and in particular equity financing,” the report said. “This helps them to scale their operations and invest into more efficient equipment.”It also means fewer Bitcoin will be available on the market—which some industry observers Others, including JP Morgan analysts led by Nikolaos Panigirtzoglou, say that the market has already absorbed the potential impact of the halving. Bitcoin’s price plunged hard last Friday and continued to drop this week after a combination of The Experts in the space told Edited by Ryan Ozawa.
