News: JPMorgan Sees Imminent Bitcoin Price Fall; Why It’s Unlikely to Happen


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Transcript:

0:00:00 JPMorgan Sees Imminent Bitcoin Price Fall; Why It’s Unlikely to Happen

0:00:05 This update is brought to you by “CoinCheckup News Updates” and was originally published on “NewsBTC”.

0:00:11 JPMorgan believes a Bitcoin price fall is imminent.

0:00:15 According to their analysts, periods when price exceeds “intrinsic value” have always led to a drop in price.

0:00:21 And following the recent rally over the past few weeks, this situation has presented once again.

0:00:27 After a fantastic run-up, which saw Bitcoin gain 120% since the start of the year, the market is currently in a cooling off period.

0:00:35 All the same, Bitcoin’s strong performance has put it back on the radar of the general public.

0:00:41 With that should come caution, and few are more cautious than JPMorgan.

0:00:45 In an article by Bloomberg, JPMorgan analysts examined Bitcoin price against “intrinsic value.” Which they believe comprises the cost of production, namely electricity expenses.

0:00:55 They noted that periods where the price exceeded “intrinsic value” were followed by a fall in Bitcoin price.

0:01:02 And given the recent price spike, this pattern is likely to repeat.

0:01:06 “Over the past few days, the actual price has moved sharply over marginal cost.

0:01:11 In compiling their data, JPMorgan analysts treated Bitcoin as a commodity.

0:01:16 They also drew on an economic theory which states that the cost of mining Bitcoin may correlate with its price.

0:01:22 “Bitcoin production seems to resemble a competitive market, so in theory miners will produce until their marginal costs equal their marginal product.

0:01:30 Break-even points are modeled for market price, energy cost, efficiency and difficulty to produce.

0:01:36 Is Bitcoin A Commodity?

0:01:38 Having said that, is it right to classify Bitcoin as a commodity?

0:01:42 And is it sensible to apply economic theory to Bitcoin?

0:01:46 Especially considering cryptocurrencies are different from all that have come before.

0:01:51 Thanks for watching this video!
If you wanna read the whole article you can go to CoinCheckup.com or go to: “NewsBTC”, who originally published this news update on their website.

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