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January 25, 2022
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Majority Expect Bitcoin Price to Reach $60K or More This Year – Featured Bitcoin News

Global funding financial institution JPMorgan has requested its purchasers what they assume the price of bitcoin shall be by year-end. Among the financial institution’s purchasers who responded, 55% count on the price of bitcoin to finish the yr at $60K or larger.

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 count on the price of bitcoin to be by year-end. The world 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 count on bitcoin to finish the yr at round $60,000. 23% count on the price to be $20,000 whereas 20% count on it to be $40,000.

In addition, 9% consider that the price of BTC will attain $80,000, 5% assume that it may very well be $100,000 or extra, whereas 2% count on it to fall to $10,000 or decrease.

JPMorgan’s shopper survey about their bitcoin price expectation. Source: JPMorgan

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

I’m not shocked by bitcoin’s bearishness … Our bitcoin-position indicator based mostly 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 contrast to gold.

At the time of writing, the price of bitcoin is $43,291 based mostly on knowledge from Bitcoin.com Markets.

Recently, the president of El Salvador, Nayib Bukele, predicted that the price 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 chance. Crypto lending platform Nexo, nonetheless, expects the price of BTC to hit $100K by the center of this yr.

What is your bitcoin price prediction? Let us know within the feedback part under.

Kevin Helms

A pupil 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.

Image Credits: Shutterstock, Pixabay, Wiki Commons

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