tldr; JPMorgan analysts predict that retail demand for Bitcoin will remain high until April 2024, due to the upcoming halving event that will double the cost of mining Bitcoin to about $40,000. This event is expected to create a positive psychological effect on the market, as historically the cost of mining BTC has acted as an effective lower bound on its price. Institutional demand for Bitcoin, on the other hand, is falling due to fraud, increased volatility, and regulatory pressure.
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https://www.reddit.com/r/Bitcoin/comments/14277ya/jpmorgan_predicts_high_demand_for_bitcoin_until/
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