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

Cryptocurrency

By Yes Mobile

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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

International funding financial institution JPMorgan has requested its shoppers what they assume the value of bitcoin can be by year-end. Among the many financial institution’s shoppers who responded, 55% anticipate the value of bitcoin to finish the 12 months at $60Ok or greater.

What JPMorgan’s Purchasers Count on the Price of Bitcoin to Be by Yr-Finish

JPMorgan has carried out a survey of its shoppers about what they anticipate the value of bitcoin to be by year-end. The worldwide funding financial institution launched the outcomes earlier this week. The survey was carried out between Dec. 13 and Jan. 7 as a part of a broader macroeconomic outlook for 2022. Forty-seven of JPMorgan’s shoppers participated in the survey.

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

As well as, 9% consider that the value of BTC will attain $80,000, 5% assume that it might be $100,000 or extra, whereas 2% anticipate it to fall to $10,000 or decrease.

JPMorgan’s shopper survey about their bitcoin worth expectation. Supply: JPMorgan

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

I’m not shocked 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 buyers assume about its volatility ratio in comparison with gold.

On the time of writing, the value of bitcoin is $43,291 primarily based on knowledge from Bitcoin.com Markets.

Just lately, the president of El Salvador, Nayib Bukele, predicted that the value of bitcoin will attain $100,000 by the tip of the 12 months. International funding financial institution Goldman Sachs additionally sees the $100,000 stage for BTC as a chance. Crypto lending platform Nexo, nevertheless, expects the value of BTC to hit $100Ok by the center of this 12 months.

What’s your bitcoin worth prediction? Tell us in the feedback part beneath.

Kevin Helms

A scholar of Austrian Economics, Kevin discovered Bitcoin in 2011 and has been an evangelist ever since. His pursuits lie in Bitcoin safety, open-source methods, community results and the intersection between economics and cryptography.

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