With Bitcoin and the broader cryptocurrency markets putting investors through the wringer amid a relentless downturn, there’s just one question on their minds: “When will the correction end?”
Now, analysts at JP Morgan have shared their latest predictions.
The analysts have warned of more crypto pain ahead, citing factors such as the lack of positive market catalysts and waning interest from retail investors.
“Crypto markets have continued to correct lower over the past two weeks, extending losses since the recent peak,” JPMorgan analysts led by Nikolaos Panigirtzoglou wrote in a report today.
The analysts also suggested that the crypto and BTC market sell-off over the past fortnight has been driven by “significant profit-taking.”
As you might recall, JPMorgan analysts warned that the price of Bitcoin was likely to fall post-halving. The analysts predicted that BTC’s price would drop to $42,000 following the halving event due to a reduction in miner rewards and increased production costs.
