Global funding financial institution JPMorgan has requested its purchasers what they assume the worth of bitcoin will likely be by year-end. Among the financial institution’s purchasers who responded, 55% anticipate the worth of bitcoin to finish the yr 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 anticipate the worth of bitcoin to be by year-end. The international 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 anticipate bitcoin to finish the yr at round $60,000. 23% anticipate the worth to be $20,000 whereas 20% anticipate it to be $40,000.
In addition, 9% imagine that the worth of BTC will attain $80,000, 5% assume that it could possibly be $100,000 or extra, whereas 2% anticipate it to fall to $10,000 or decrease.
Nikolaos Panigirtzoglou, a JPMorgan strategist and an creator of the analysis notice that included the survey, commented:
I’m not shocked by bitcoin’s bearishness … Our bitcoin-position indicator primarily based on bitcoin futures appears oversold.
He added that the cryptocurrency’s truthful worth is between $35,000-$73,000, relying on what traders assume about its volatility ratio in contrast to gold.
At the time of writing, the worth of bitcoin is $43,291 primarily based on knowledge 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 yr. Global funding financial institution Goldman Sachs additionally sees the $100,000 stage for BTC as a risk. Crypto lending platform Nexo, nonetheless, expects the worth of BTC to hit $100K by the center of this yr.
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