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

Global concern slope JPMorgan has asked its clients what they deliberation the terms of bitcoin volition beryllium by year-end. Among the bank’s clients who responded, 55% expect the terms of bitcoin to extremity the twelvemonth astatine $60K oregon higher.

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

JPMorgan has conducted a survey of its clients astir what they expect the terms of bitcoin to beryllium by year-end. The planetary concern slope released the results earlier this week. The survey was conducted betwixt Dec. 13 and Jan. 7 arsenic portion of a broader macroeconomic outlook for 2022. Forty-seven of JPMorgan’s clients participated successful the survey.

About 41% of the bank’s clients who responded expect bitcoin to extremity the twelvemonth astatine astir $60,000. 23% expect the terms to beryllium $20,000 portion 20% expect it to beryllium $40,000.

In addition, 9% judge that the terms of BTC volition scope $80,000, 5% deliberation that it could beryllium $100,000 oregon more, portion 2% expect it to autumn to $10,000 oregon lower.

JPMorgan’s lawsuit survey astir their bitcoin terms expectation. Source: JPMorgan

Nikolaos Panigirtzoglou, a JPMorgan strategist and an writer of the probe enactment that included the survey, commented:

I’m not amazed by bitcoin’s bearishness … Our bitcoin-position indicator based connected bitcoin futures looks oversold.

He added that the cryptocurrency’s just worth is betwixt $35,000-$73,000, depending connected what investors presume astir its volatility ratio compared to gold.

At the clip of writing, the terms of bitcoin is $43,291 based connected information from Bitcoin.com Markets.

Recently, the president of El Salvador, Nayib Bukele, predicted that the terms of bitcoin volition scope $100,000 by the extremity of the year. Global concern slope Goldman Sachs besides sees the $100,000 level for BTC arsenic a possibility. Crypto lending level Nexo, however, expects the terms of BTC to deed $100K by the mediate of this year.

What is your bitcoin terms prediction? Let america cognize successful the comments conception below.

Image Credits: Shutterstock, Pixabay, Wiki Commons

Disclaimer: This nonfiction is for informational purposes only. It is not a nonstop connection oregon solicitation of an connection to bargain oregon sell, oregon a proposal oregon endorsement of immoderate products, services, oregon companies. Bitcoin.com does not supply investment, tax, legal, oregon accounting advice. Neither the institution nor the writer is responsible, straight oregon indirectly, for immoderate harm oregon nonaccomplishment caused oregon alleged to beryllium caused by oregon successful transportation with the usage of oregon reliance connected immoderate content, goods oregon services mentioned successful this article.