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JPMorgan's $160 Billion Bitcoin Bombshell

  • Thread starter Thread starter glitch
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glitch

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JPMorgan believes that $160 billion can be taken out from Bitcoin's $400 billion market capital.

I am not sure if this is a scare tactic or what they are playing at with this. I know the prices have come down for mining but those always go up and down.

The bitcoin price surged back above $20,000 per bitcoin but has failed to maintain momentum with some investors saying they're not yet ready to call the [market] bottom and others identifying what they call "a massive opportunity."

Now, JPMorgan analysts have warned bitcoin's cost of production has dropped by more than $10,000 per bitcoin in just over a month—something they think could potentially wipe $160 billion from bitcoin's near-$400 billion market capitalization.
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I also don't know if this is a scare tactic, but it seems like one. I wonder why the thought of removing out of bitcoin's market capital came to JPMorgan.
 
If a trusted organization like JP Morgan can come out with this claim, I'm sure there's access to insider information we don't know about - a lot if revelations will still come up in the long run
 
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