JPMorgan expects a decline in Bitcoin. Beyond the decline, the bank’s analysts, led by Nikolaos Panigirtzoglou, also made a specific prediction and stated that the price could decline up to 42 thousand dollars.

Mining, hash rate and production cost details…

Stating that the halving will seriously increase miner costs, the report stated that there may be a decrease in the hash rate after the halving and included the following statements:

“Bitcoin production cost has always been a lower bound for price. Our estimated cost is currently around $26,500. After the halving, logically, this price should increase to 53 thousand dollars. However, after the halving, there may be a 20% decrease in the hash rate as old mining devices lose power and are shut down. This can reduce the production cost to approximately 42 thousand dollars.”

The report stated that the $42,000 level is also seen as where Bitcoin could come after the current “enthusiasm” ends.

The mining difficulty set on February 15 broke a record with an increase of 8.2%. The difficulty rose above 81 trillion for the first time in Bitcoin history and the hash rate broke a record again.

Bitcoin made February over 61 thousand dollars with the biggest monthly rise in its history.

It was published:

Last update:

If you want to be the first to be informed about the latest developments, join Uzmancoin Telegram channel!


Leave a Reply