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

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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 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.

Kevin Helms

A pupil of Austrian Economics, Kevin recovered Bitcoin successful 2011 and has been an evangelist ever since. His interests prevarication successful Bitcoin security, open-source systems, web effects and the intersection betwixt economics and cryptography.

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