Only 5% of JPMorgan clients believe Bitcoin would hit $100k in 2022

El Salvador

TL;DR Breakdown

  • Only 5% of JPMorgan clients see BTC at 100k by end of 2022.
  • Strategist at the bank backs clients predicts BTC would end year between $35,000 – $75,000.
  • Jamie Dimon still anti Bitcon.

As a result of the dwindling price of Bitcoin and other cryptocurrencies, a lot of enthusiasts currently don’t have much faith in the cryptocurrency.

The low spirit among crypto enthusiasts is evident after a recent survey by Bloomberg revealed that the vast majority of JPMorgan customers do not expect Bitcoin to reach $100,000 by the end of 2022. Only 5 percent of JPMorgan’s customers think bitcoin’s price by the end of 2022 will be over $100,000

In the same vein, more than 40 percent of the participants expect the asset to sit at around $60,000 by the year’s end.

Summing up why enthusiasts are no longer bullish on cryptocurrencies, t is safe to say that after much hype and promotions from prominent analysts that Bitcoin would hit $100,000, it failed to meet that level. In fact, Bitcoin finished 2021 on a downtrend, which continued in the first days of 2022.

However, some analysts and proponents of the asset still believe that it can reach this price level in the next 12 months, which many enthusiasts disagree with.

Nikolaos Panigirtzoglou – a strategist at JPMorgan – said he is not surprised by the bearishness his clients have displayed regarding BTC’s future. In his view, the coin’s “fair price” sits between $35,000 and $73,000, and it depends on what investors assume about its volatility ratio versus gold.

It is worth noting, though, that the top answer, with 41 percent, is Bitcoin to trade at around $60,000 by the year’s end, or approximately 40 percent increase of the current price of the asset.

Jamie Dimon, JPMorgan CEO still anti-Bitcoin

Jamie Dimon has on numerous occasions described Bitcoin, number one crypto, as worthless.

Despite the continued demand for Bitcoin by customers of JPMorgan Bank, the CEO has said he is unimpressed with the crypto performance. “I personally think that bitcoin is worthless. (However) our clients are adults (and) they disagree. That’s what makes markets,” he said in December during an interview.

Muhaimin Olowoporoku

Muhaimin Olowoporoku

Muhaimin loves writing on crypto news aside from being a crypto enthusiast. He has a knack for analysing issues and updating people on what's happening around the globe. He believes that blockchain and cryptocurrency are the most useful systems of mutual trust ever devised.

Related News

Hot Stories

Hectagon to Launch TGE on August 8 Aiming to Bootstrap Decentralized VC DAO
Polkadot price analysis: DOT fluctuates at $8.5. Ready to move lower?
Chainlink price analysis: Bearish run brings LINK/USD value down to $7.75
Bitcoin, Ethereum, XRP, and Solana Daily Price Analyses – 6 August Roundup
Polkadot price analysis: DOT set to face yet another rejection below $1

Follow Us

Industry News

Binance CEO Urges To Move Funds From WazirX To Binance
Bitcoin falls to $23K on U.S. jobs report
How are the top cryptocurrencies selected?
Voyager Digital set to refund users with a $270 million fund
Amidst Thailand crypto wobble, SEC continues to ok exchanges