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

International funding financial institution JPMorgan has requested its purchasers what they assume the worth of bitcoin will likely 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 Anticipate the Value 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% assume that it might be $100,000 or extra, whereas 2% anticipate it to fall to $10,000 or decrease.

JPMorgan’s consumer survey about their bitcoin worth expectation. Supply: JPMorgan

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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 seems oversold.

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He added that the cryptocurrency’s truthful 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 knowledge from Markets.

Lately, the president of El Salvador, Nayib Bukele, predicted that the worth of bitcoin will attain $100,000 by the tip of the yr. International funding financial institution Goldman Sachs additionally sees the $100,000 degree for BTC as a risk. 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 under.

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Kevin Helms

A scholar 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.

Picture Credit: Shutterstock, Pixabay, Wiki Commons

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