Solely 5% of JPMorgan’s Purchasers Consider Bitcoin Will Attain $100,000 in 2022 (Report)

In response to a current survey, the overwhelming majority of JPMorgan prospects don’t anticipate bitcoin to succeed in $100,000 within the following 12 months. Nonetheless, greater than 40% of the members anticipate the asset to sit down at round $60,000 by the 12 months’s finish.

JPMorgan Purchasers Do Not Anticipate BTC at $100K This 12 months

The most important cryptocurrency by market capitalization didn’t handle to climb to the often-touted milestone of $100,000 final 12 months regardless of quite a few predictions from consultants and analysts. In actual fact, bitcoin completed 2021 on a downtrend, which continued within the first days of 2022.

Nevertheless, some analysts and proponents of the asset nonetheless consider that it could actually attain this worth stage within the subsequent 12 months.

In distinction, most shoppers of the US multinational financial institution JPMorgan Chase & Co are skeptical of such a situation, based on a current ballot reported by Bloomberg. Solely 5% see bitcoin buying and selling at over $100,000 earlier than the tip of 2022.

Nikolaos Panigirtzoglou – a strategist on the financial institution – mentioned he’s not stunned by the bearishness his shoppers have displayed relating to BTC’s future. In his view, the coin’s “honest worth” sits between $35,000 and $73,000, and it is dependent upon what buyers assume about its volatility ratio versus gold.

It’s price noting, although, that the highest reply, with 41%, is bitcoin to commerce at round $60,000 by the 12 months’s finish, or roughly 40% enhance of the present worth of the asset.

The Opposite Forecasts

Not like JPMorgan’s shoppers, Nayib Bukele – the pro-bitcoin President of El Salvador – predicted a price ticket of $100K for the main cryptocurrency someday in 2022. He additionally envisioned that a minimum of two extra nations will observe his nation’s path and undertake BTC as a authorized tender over the course of the continuing 12 months.

Nexo’s Co-Founder Antoni Trenchev additionally sees the asset reaching the six-digit milestone. In response to him, such a worth surge will likely be fueled by the rising institutional adoption and can occur by the center of 2022.

As well as, the 35-year-old Bulgarian opined that bitcoin is an inflation hedge equal to gold. The present inflation price in most international locations is spiking drastically, which may very well be another excuse to drive BTC’s USD worth up.

Featured Picture Courtesy of Company Finance Institute