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.
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.
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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