JPMorgan Client Survey: Majority Expect Bitcoin Price to Reach $60K or More This Year

JPMorgan Client Survey: Majority Expect Bitcoin Price to Reach $60K or More This Year

Global funding financial institution JPMorgan has requested its purchasers what they assume the worth of bitcoin will probably be by year-end. Among the financial institution’s purchasers who responded, 55% count on the worth of bitcoin to finish the 12 months at $60K or greater.

What JPMorgan’s Clients Expect the Price of Bitcoin to Be by Year-End

JPMorgan has performed a survey of its purchasers about what they count on the worth of bitcoin to be by year-end. The world funding financial institution launched the outcomes earlier this week. The survey was performed between Dec. 13 and Jan. 7 as a part of a broader macroeconomic outlook for 2022. Forty-seven of JPMorgan’s purchasers participated within the survey.

About 41% of the financial institution’s purchasers who responded count on bitcoin to finish the 12 months at round $60,000. 23% count on the worth to be $20,000 whereas 20% count on it to be $40,000.

In addition, 9% consider that the worth of BTC will attain $80,000, 5% assume that it might be $100,000 or extra, whereas 2% count on it to fall to $10,000 or decrease.

Nikolaos Panigirtzoglou, a JPMorgan strategist and an creator of the analysis observe that included the survey, commented:

I’m not stunned by bitcoin’s bearishness … Our bitcoin-position indicator primarily based on bitcoin futures appears to be like oversold.

He added that the cryptocurrency’s honest worth is between $35,000-$73,000, relying on what traders assume about its volatility ratio in comparison with gold.

At the time of writing, the worth of bitcoin is $43,291 primarily based on information from Bitcoin.com Markets.

Recently, the president of El Salvador, Nayib Bukele, predicted that the worth of bitcoin will attain $100,000 by the top of the 12 months. Global funding financial institution Goldman Sachs additionally sees the $100,000 stage for BTC as a chance. Crypto lending platform Nexo, nevertheless, expects the worth of BTC to hit $100K by the center of this 12 months.

What is your bitcoin worth prediction? Let us know within the feedback part beneath.

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