Morgan Chase: After halving, Bitcoin may fall 33%to $ 42,000
(JPMORGAN) Analysts said that one of the most anticipated catalysts for Bitcoin’s further rise may eventually reduce the price of this largest cryptocurrency.
In April of this year, a Bitcoin code update called "Half Half" will reduce the number of tokens issued daily to about 450, and the advocate said that this will lead to a shortage of supply.The exchanges (ETFs) approved in January caused the demand to surge. Bitcoin has risen by about 45%so far this year to about $ 62,000.
Historically, the price of Bitcoin will rise after halving. The so -called miners’ production cost is the lower limit of the asset price.Morgan Chase’s strategyist said that the average production cost of Bitcoin is currently US $ 26,500, and after halving, the "mechanical doubles" to $ 53,000.
However, as the difficulty of mining increases, small miners are forced to withdraw from operations, and the difficulty of mining may be 20%lower than the initial estimate, thereby reducing production costs.Strategies wrote that due to the decrease in the lower limit of Bitcoin, investors may see that Bitcoin prices fell 33%from US $ 62,600 on Friday (March 1) to $ 42,000.
Strategic predictions are based on two key assumptions.First of all, after halving, the electricity cost of miners is estimated to be 5 cents per kilowatt -hour, which may vary from place and scale.Secondly, as Bitcoin mining becomes more energy -dense after April, some of the low -efficiency groups and private miners who rarely obtain funds will withdraw from the market because their production costs exceed their profitability. This willMake the hash rate (indicator of the industry’s total mining capacity) decreased by about 20%.
"The decline of 20%will make the computing power closer to the historical trend," the strategists wrote."This will effectively reduce the central point of the production cost scope we estimates to $ 42,000. This estimation of this $ 42,000 is also an imagination. Once the optimistic emotions caused by the reduction of Bitcoin faded down after April, the price of Bitcoin prices"Level". "". "
However, if the price of Bitcoin remains at a high level, the decline in hash may not become a reality.After listed miners received more market share in 2022, the rise in Bitcoin prices in the second year attracted smaller miners to return to the industry.
As more and more people buy bitcoin through the new spot Bitcoin ETF and continue to attract new investors, the rise in Bitcoin prices may allow small -scale miners to keepprofit.Simla Stock
In February, Bitcoin mining revenue increased by 40 million US dollars month -on -month to $ 1.39 billion
According to News.bitcoin, in February, Bitcoin miners mined a total of 4,446 blocks and earned $ 1.39 billion in revenue, of which $ 71 million came from the chain trading costs, which was a significant decline from the US $ 133 million in January, and and and of.It was significantly lower than 337 million US dollars in December.Although the fees charged in February were reduced, Bitcoin mining revenue increased by 40 million US dollars over January.Since February 25, 2024, the price of every Petahash has climbed to more than $ 100.
Hungary proposes a draft legal draft law that allows banks, investment funds and asset management companies to provide crypto market services
According to Bloomberglaw, according to a draft legislative case, Hungary aims to establish a digital asset supervision framework with the Hungarian central bank as its main regulatory agency, plans to allow banks, investment funds and asset management companies to provide market services.If the bill is passed, it will be effective on June 30.
Indonesia intends to re -evaluate income tax and VAT levied on crypto transactionsChennai Stock
According to Cointelegraph quoted local media reports, the executives of Indonesia’s commodity futures trading regulatory agency (also known as BAPPEBTI) specially requested re -evaluating the government’s 0.11% VAT levied on each cryptocurrency transaction and 0.1% income tax.Tirta Karma Senjaya, director of the BAPPEBTI Market Development Bureau, explained that the reason behind cryptocurrencies is expected to become an indispensable part of Indonesia’s overall economy in the near future.
The report further pointed out that in January 2024, the total government income of Indonesia’s cryptocurrency duty reached $ 2.49 million.Although these encrypted taxes have taken effect in Indonesia for nearly two years, Senjaya said that they should conduct annual reviews like other tax laws.The report pointed out: "Evaluation is necessary, because this provision has been implemented for more than a yearSurat Stock. Generally, taxation will be evaluated every year." In addition, the number of cryptocurrencies has increased by more than 11%, from 11.2 million in 2021 to increase to increase to to 11.2 million in 2021 to to 11.2 million to increase to to 11.2 million to to 1121 to increase to to 11.2 million to increase to to 112 million to increase to to 11.2 million to to 1121 to increase to to 11.2 million to to 1121.12.4 million.
International Clearance Bank releases global stable currency arrangements for supervision suggestions
(BIS) released regulatory suggestions for global stable currency arrangements, the purpose is to solve the financial stability risk brought by stable coins at home and abroad.These suggestions emphasize the importance of cross -border cooperation, coordination and information sharing, and aims to support stable currency innovation, and at the same time provide flexibility for the implementation of domestic methods for the implementation of judicial jurisdictions.BIS emphasizes that although stable currency has the potential to improve financial services, it may also constitute risks on financial stability.
Buildbear Labs, which focuses on web3 development tools, completes $ 1.9 million in financing, 1KX and other led investment
BUILDBEAR LABS, which is headquartered in Singapore’s web3 development tool, has successfully raised $ 1.9 million in funds.This round of financing was led by SuperScrypt, Tribe Capital and 1KXMumbai Investment. ITERATIVE, Plug-N-Play, and angel investors including the founders of TypeChain and DETHCRYPTO Kris Kaczor and Ken FROMM participated.Buildbear Labs plans to use this fund to accelerate the development of its flagship platform, which provides developers with testing and verification solutions to create safe decentralized applications.
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