TechFlow news, November 13 — According to The Block, a recent report by JPMorgan analysts indicates that Bitcoin's production cost has risen to approximately $94,000, a level historically seen as a price support, implying limited downside from the current price of around $102,300. The analysis team led by Managing Director Nikolaos Panigirtzoglou stated that the significant increase in Bitcoin network difficulty over recent months has sharply driven up production costs. Meanwhile, analysts reiterated their previous upside forecast for Bitcoin to potentially reach $170,000 within the next 6 to 12 months, based on volatility-adjusted comparisons with gold. The report notes that Bitcoin currently absorbs about 1.8 times more risk capital than gold, and to match gold's private investment market of $6.2 trillion, its market capitalization would need to rise by approximately 67%.
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