JPMorgan and Goldman Sachs Warn Crypto Investors:

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JPMorgan and Goldman Sachs, the two largest banks in the USA, warned crypto investors to be careful before the Bitcoin halving. JPMorgan predicts that Bitcoin's price will not increase following this event, but rather that the declines that started earlier this month are more likely to continue.

"We do not expect an increase in the price of bitcoin after the halving, because it has already been priced," say analysts, arguing that the price of Bitcoin should be only $ 45,000, taking the price of gold as a reference. This suggests that the current market price ($63,700) is significantly overbought.

Goldman Sachs, however, acknowledges that the consequences of Bitcoin's three past halving cycles have subsequently led to large price increases, although the time it takes to reach a new peak has varied widely. This cycle looks even more different: Bitcoin surpassed the previous cycle's all-time high of $69,000 in March, a month before the halving occurred.

The halving itself is expected later this week, on April 20 at 01:44 UTC. Regardless of whether it will lead to a "buy the rumor, sell the news" event in the short term, Goldman thinks BTC's near-immediate price action doesn't matter much.

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