55% of JPMorgan's clients surveyed expect bitcoin to end the year at $60,000 or above. cryptocurrency crypto $BTC
Global investment bank JPMorgan has asked its clients what they think the price of bitcoin will be by year-end. Among the bank’s clients who responded, 55% expect the price of bitcoin to end the year at $60K or higher.JPMorgan has conducted a survey of its clients about what they expect the price of bitcoin to be by year-end. The global investment bank released the results earlier this week. The survey was conducted between Dec. 13 and Jan. 7 as part of a broader macroeconomic outlook for 2022.
About 41% of the bank’s clients who responded expect bitcoin to end the year at around $60,000. 23% expect the price to be $20,000 while 20% expect it to be $40,000.will reach $80,000, 5% think that it could be $100,000 or more, while 2% expect it to fall to $10,000 or lower.Nikolaos Panigirtzoglou, a JPMorgan strategist and an author of the research note that included the survey, commented:
I’m not surprised by bitcoin’s bearishness … Our bitcoin-position indicator based on bitcoin futures looks oversold. He added that the cryptocurrency’s fair value is between $35,000-$73,000, depending on what investors assume about its volatility ratio compared to gold.Recently, the president of El Salvador, Nayib Bukele, predicted that the price of bitcoin will reach $100,000 by the end of the year. Global investment bank Goldman Sachs also sees the $100,000 level for