Bitcoin is likely to drop to $13,000, according to jpmorgan
researchers believe that the price of Bitcoin, the world’s largest cryptocurrency, could be on track to drop to $13,000 due to the FTX disaster.
Notably, the American banking giant believes that Bitcoin will potentially drop below its production cost, which currency stands at roughly $15,000. JPMorgan has predicted that the market will have to deal with “a cascade of margin calls” triggered by the implosion of one of the largest cryptocurrency exchanges in the upcoming weeks.
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