Morgan Stanley say bitcoin mining only profitable above 8600 dollars. I'm not sure this is correct though, especially if future valuations come anywhere close to fruition.
I dont think so. If mining was only profitable at the $8600, then why were people rushing into right from the time when the price was still at the rate of $100 and less? You dont just say that it is only profitable when its at the rate of $8600, rather it is more profitable when its at the rate of $8,600 and above, but profitable at all rate. When the price of Bitcoin was at low rate, people who were just investing on cloud mining made a lot of profits, but ever since the price became high, people dont make anything from cloud mining anymore. So what hes saying makes no sense.