#bitcoin #JPMorgan
đ Has Bitcoin hit bottom? JPMorgan predicts a positive 2026
As the cryptocurrency market continues to boom, JPMorgan analysts led by Nikolaos Panigirtsoglu have released a new report. Hereâs a quick look at why $77,000 is a significant number and what to expect next.
đĄ Cost as a âsoft floorâ
The cost of mining 1 $BTC has fallen from $90,000 at the beginning of the year to $77,000. This was due to a decrease in hashrate and mining difficulty.
âą Why is this important? Historically, mining cost has served as a support level. The current difficulty decline (by 15% since the beginning of the year) is the strongest since the âChinese banâ of 2021.
âïž Why did miners shut down?
1. Loss-making: Older equipment has become âin the redâ at current prices.
2. Weather: Severe winter storms in the US (especially in Texas) have forced large farms to shut down to save electricity for the grid.
3. Artificial Intelligence: Some players are selling BTC shares to repurpose capacity for AI.
đ Optimism for 2026
Despite the current price of around $65,000, JPMorgan maintains a âpositive viewâ for this year:
âą Institutional capital: The influx of money is expected to come from large funds, not retail investors.
âą Regulation: A breakthrough could come thanks to the adoption of new laws in the US (in particular, the Clarity Act).
âą Grandiose goal: Analysts confirmed their long-term forecast of $266,000 for Bitcoin (based on comparison with gold as a safe-haven asset).
