JPMorgan: Expects Bitcoin support level at $94,000 and maintains a pump expectation of $170,000.

BlockBeats news, on November 13, reported by The Block, JPMorgan analysts stated that the room for Bitcoin to fall from the current price level is “very limited,” with a support price of approximately $94,000. The analyst team, led by Managing Director Nikolaos Panigirtzoglou, pointed out in a report released on Wednesday that Bitcoin's estimated production cost—historically viewed as the bottom or support price—has risen from a recent approximately $92,000 to about $94,000. Meanwhile, the analysts reiterated last week's prediction of a rise in Bitcoin price of about $170,000 over the next 6-12 months, based on the volatility-adjusted comparison between Bitcoin and gold.