JPMorgan CEO Jamie Dimon declared his disdain for cryptocurrencies in a recent United States Senate Hearing.
“I have always been deeply opposed to crypto, Bitcoin, etc,” said Dimon.
Jamie Dimon Says No To Crypto
“There are serious emerging issues that need to be dealt with – and rather quickly: the growth of shadow banking, the legal and regulatory status of cryptocurrencies.”
Despite Dimon’s comments, JPMorgan has been making regular forecasts on crypto, and especially Bitcoin, in recent times.
On October 12, the investment firm made a more technical forecast, predicting a 20% drop in Bitcoin Network’s Hash Rate after the Bitcoin halving occurs in April 2024.
JPMorgan’s Recent Crypto Forecasts
Meanwhile, it states that the four-year block reward opportunity totals approximately $20 billion. This prediction was based on Bitcoin’s current price.
However, Bitcoin’s price has surged over the past month. At the time of publication, Bitcoin’s price is $43,222.
However, it underscores a substantial decrease of around 72% from a little over two years ago.