"Bitcoin Has Reached Its Bottom," Say Analysts at Financial Giant JP Morgan

Financial giant JP Morgan has released an analysis suggesting that the price of the cryptocurrency Bitcoin (BTC) has reached its bottom, as reported by Forbes on the 15th. The analysis, led by Mr. Nikolaos Panigirtzoglou, focuses on the estimated production costs of Bitcoin, which are incurred by miners (businesses or individuals mining Bitcoin) to mine new Bitcoin and earn rewards. Historically, these production costs have acted as a floor price during Bitcoin sell-off phases, indicating the minimum price level at which Bitcoin tends to stabilize.