JPMorgan Warns of 'Critical Threshold' as $85k Looms for Miners
JPMorgan has identified $85,000 as a critical threshold for Bitcoin from miners' perspective.
After hitting this level 280 days ago and then dipping back to around $84,400, bank officials warn that a price below production costs could force inefficient miners to sell their BTC.
Last month, JPMorgan also floated the possibility of a long-term scenario where Bitcoin's value reaches $266,000.