JPMorgan Client Survey: Majority Expect Bitcoin Price to Reach $60K or More This Year

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.

What JPMorgan’s Clients Expect the Price of Bitcoin to Be by Year-End

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. Forty-seven of JPMorgan’s clients participated in the survey.

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.

In addition, 9% believe that the price of BTC 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.

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

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 BTC as a possibility. Crypto lending platform Nexo, however, expects the price of BTC to hit $100K by the middle of this year.

What is your bitcoin price prediction? Let us know in the comments section below.

Leave A Reply

Your email address will not be published.

  • bitcoinBitcoin (BTC) $ 41,773.00 2.6%
  • ethereumEthereum (ETH) $ 3,157.76 3.71%
  • binance-coinBinance Coin (BNB) $ 469.23 3.41%
  • tetherTether (USDT) $ 0.996172 0.67%
  • cardanoCardano (ADA) $ 1.53 0.6%
  • usd-coinUSD Coin (USDC) $ 0.998669 0.37%
  • solanaSolana (SOL) $ 138.45 3.64%
  • xrpXRP (XRP) $ 0.748339 2.18%
  • terra-lunaTerra (LUNA) $ 75.16 9.8%
  • polkadotPolkadot (DOT) $ 24.78 7.71%
  • dogecoinDogecoin (DOGE) $ 0.168400 1.37%
  • avalanche-2Avalanche (AVAX) $ 85.92 4.04%
  • shiba-inuShiba Inu (SHIB) $ 0.000028 3.79%
  • matic-networkPolygon (MATIC) $ 2.16 10.05%
  • binance-usdBinance USD (BUSD) $ 0.995831 0.77%
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.443582 2.43%
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 41,817.00 2.34%
  • nearNear (NEAR) $ 17.72 9.15%
  • chainlinkChainlink (LINK) $ 23.23 7.34%
  • cosmosCosmos (ATOM) $ 37.75 11.33%
  • terrausdTerraUSD (UST) $ 1.00 0.3%
  • litecoinLitecoin (LTC) $ 144.29 3.52%
  • daiDai (DAI) $ 0.999327 0.46%
  • algorandAlgorand (ALGO) $ 1.32 5.57%
  • uniswapUniswap (UNI) $ 16.94 1.41%
  • fantomFantom (FTM) $ 2.89 9.27%
  • bitcoin-cashBitcoin Cash (BCH) $ 380.42 0.63%
  • okbOKB (OKB) $ 26.74 4.4%
  • tronTRON (TRX) $ 0.068286 4.53%
  • stellarStellar (XLM) $ 0.252369 1.31%
  • ftx-tokenFTX Token (FTT) $ 43.65 4.48%
  • internet-computerInternet Computer (ICP) $ 30.07 0.09%
  • staked-etherLido Staked Ether (STETH) $ 3,160.82 3.41%
  • axie-infinityAxie Infinity (AXS) $ 73.60 10.25%
  • vechainVeChain (VET) $ 0.073927 3.91%
  • hedera-hashgraphHedera (HBAR) $ 0.261935 5.31%
  • magic-internet-moneyMagic Internet Money (MIM) $ 1.00 0.45%
  • compound-ethercETH (CETH) $ 63.51 3.29%
  • filecoinFilecoin (FIL) $ 28.23 4.53%
  • ethereum-classicEthereum Classic (ETC) $ 31.29 0.52%
  • the-sandboxThe Sandbox (SAND) $ 4.49 6.05%
  • theta-tokenTheta Network (THETA) $ 3.93 3.24%
  • decentralandDecentraland (MANA) $ 2.87 5.2%
  • elrond-erd-2Elrond (EGLD) $ 186.25 3.32%
  • harmonyHarmony (ONE) $ 0.322154 5.81%
  • moneroMonero (XMR) $ 204.48 10.92%
  • klay-tokenKlaytn (KLAY) $ 1.38 1.64%
  • tezosTezos (XTZ) $ 4.00 4.73%
  • leo-tokenLEO Token (LEO) $ 3.68 2.45%
  • heliumHelium (HNT) $ 31.89 2.22%