Bitcoin’s Production Cost Estimated At $13,000 By JPMorgan Analysts: Why This Could Be Bad News

Analysts at JPMorgan Chase & Co. (NYSE: JPM) estimate that Bitcoin’s (CRYPTO: BTC) cost of production is down to $13,000 from $24,000 in June. What Happened: JPMorgan strategists led by Nikolaos Panigirtzoglou, in a note to clients seen by Bloomberg on Wednesday, said that the drop in production costs for the digital asset was “almost entirely” due to a decline in electricity use.