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Commentary.02: Direxion Daily Bitcoin Bear 1X Shares, Direxion Daily Bitcoin 1.25X Bull Shares, Direxion Daily Bitcoin 1.5X Bull Shares. marginal cost of production plays an important role in explaining bitcoin prices, challenging recent H02: The model price does not “cause” the market price. In 2017, Jamie Dimon, JPMorgan Chase's chief executive, declared Bitcoin a “fraud” and said that any employee caught trading it would be.