JP Morgan Bitcoin’s 50 Decline in Production Cost Could Further Harm its Price

According to a note published Wednesday by the bank’s strategists led by Nikolaos Panigirtzoglou, the Bitcoin production cost is currently sitting at $13,000, down from $24,000 at the beginning of June 2022. The report pointed out that the massive decline could hurt the digital asset’s price. The strategists further noted that the drop in the production cost estimate is almost entirely due to a decrease in electricity use as per data from the Cambridge Bitcoin Electricity Consumption Index.