World funding financial institution JPMorgan has requested its purchasers what they suppose the worth of bitcoin might be by year-end. Among the many financial institution’s purchasers who responded, 55% anticipate the worth of bitcoin to finish the yr at $60K or greater.
What JPMorgan’s Shoppers Count on the Worth of Bitcoin to Be by Yr-Finish
JPMorgan has carried out a survey of its purchasers about what they anticipate the worth 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 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.
As well as, 9% consider that the worth of BTC will attain $80,000, 5% suppose that it may very well be $100,000 or extra, whereas 2% anticipate it to fall to $10,000 or decrease.
Nikolaos Panigirtzoglou, a JPMorgan strategist and an writer of the analysis be aware that included the survey, commented:
I’m not stunned by bitcoin’s bearishness … Our bitcoin-position indicator based mostly on bitcoin futures appears 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 worth of bitcoin is $43,291 based mostly on information from Bitcoin.com Markets.
Lately, the president of El Salvador, Nayib Bukele, predicted that the worth of bitcoin will attain $100,000 by the top of the yr. World funding financial institution Goldman Sachs additionally sees the $100,000 stage for BTC as a chance. Crypto lending platform Nexo, nonetheless, expects the worth of BTC to hit $100K by the center of this yr.
What’s your bitcoin worth prediction? Tell us within the feedback part beneath.
Picture Credit: Shutterstock, Pixabay, Wiki Commons
Disclaimer: This text is for informational functions solely. It’s not a direct supply or solicitation of a suggestion to purchase or promote, or a advice or endorsement of any merchandise, companies, or firms. Bitcoin.com doesn’t present funding, tax, authorized, or accounting recommendation. Neither the corporate nor the writer is accountable, straight or not directly, for any harm or loss precipitated or alleged to be attributable to or in reference to using or reliance on any content material, items or companies talked about on this article.