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

JPMorgan, a global investment bank, asked its clients to predict the bitcoin price by year’s 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 conducted an online survey asking its clients what the expected price of Bitcoin will be at year-end. These results were released by the global bank earlier in this week. This survey was part of an overall macroeconomic outlook to 2022. It took place between Dec. 13-07. 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. The price of bitcoin will end the year at around $60,000. 23% anticipate it being $20,000, while 20% predict that it will be $40,000.

A further 9% of respondents believe the BTC price will exceed $80,000. Another 5% believes it may reach $100,000. Meanwhile, 2% think it might fall to $10,000.

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

Nikolaos Panigirtzoglou is a JPMorgan strategist who wrote the research note which included the survey.

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.

Based on data from Markets, bitcoin’s current price is $43,291 at the time of this writing

Nayib Bukele, president of El Salvador predicted recently that bitcoin would reach $100,000 before the end of this year. Goldman Sachs is also a possible target for Bitcoin to reach $100,000. Nexo is a cryptocurrency lending platform that expects BTC’s price to reach $100K at the end of 2018.

Your prediction of bitcoin prices? Please leave your comments below.

Kevin Helms

Kevin is a graduate of Austrian Economics. He discovered Bitcoin in 2011, and has been an advocate ever since. His main interests are in Bitcoin security, open source systems, network effects, cryptography, and intersections between economics, cryptography, and Cryptography.

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