Experts at JPMorgan Chase & Co. are worried that Bitcoin, a type of digital money, could lose more of its value. Even though its price already dropped by more than 10% from the highest it’s ever been, there might be more drops coming.

Lately, a lot of people have been taking their money out of Bitcoin funds, which hasn’t happened much since these funds started on January 11. This week, Bitcoin’s price went down by 4%, making it one of the hardest weeks for Bitcoin this year. Now, one Bitcoin is worth about $65,400.

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• JPMorgan Chase & Co. thinks Bitcoin’s price could keep going down after it already fell 10% from its highest point.
• Bernstein, an investment firm, thinks differently and says Bitcoin’s price could go up to $90,000 by the end of the year.
• Everyone’s watching what will happen in April when the Bitcoin halving event might change Bitcoin’s price a lot.

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Bitcoin’s Price Might Drop More, Says JPMorgan

What’s Happening with Bitcoin’s Price?

The team at JPMorgan, led by a guy named Nikolaos Panigirtzoglou, says Bitcoin costs too much. They think its price might drop more, especially because of something called the halving event in April. This event will make it so there’s less new Bitcoin being made.

They noticed two big signs that Bitcoin’s price might drop. First, a lot of people are still interested in bets that Bitcoin’s price will go down. Second, not as much money is going into Bitcoin funds anymore. They think people might keep selling their Bitcoin to make money, especially since they think Bitcoin’s price is still too high, even after it went down recently.

But, Bernstein, another company, is more hopeful about Bitcoin. They now think Bitcoin’s price could reach $90,000 by the end of the year, up from their earlier guess of $80,000. Bernstein’s experts, Gautam Chhugani and Mahika Sapra, say they’re positive because there’s a new cycle of growth for Bitcoin, more money going into Bitcoin funds, more activity in Bitcoin mining, and miners are making a lot of money. They suggest that investing in companies that mine Bitcoin could be a smart move for people who want to get involved in Bitcoin through the stock market.

With the Bitcoin halving event coming up in April, people have different ideas about what it will do to Bitcoin’s price. If you want to keep up with the latest news and guesses about Bitcoin and other money topics, you might like signing up for newsletters that talk about these things.

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