$ 60,000 expectation for Bitcoin in the JP Morgan survey
According to a survey conducted by investment bank JP Morgan for its clients, 41% of respondents expect Bitcoin to close the year around $60,000, while only 5% of respondents expect it to rise to $100,000.
According to the survey of JP Morgan's 47 customers between December 13 and January 7, 41 percent expect Bitcoin to complete the year around $60 thousand, 46 percent higher than yesterday's price. Only 5% of respondents expect bitcoin to rise to $100,000.
With the hawkish rhetoric of the Fed, cryptocurrencies have been under selling pressure lately . Bitcoin dropped below $40,000 yesterday, hitting its lowest level since September. Thus, the total loss of value since the beginning of the year has reached 11 percent.
But some, such as El Salvador's President Nayib Bukele, are optimistic that bitcoin will reach $100,000 by 2022.
In a report in November, JP Morgan predicted that if institutions start holding bitcoin instead of gold in their portfolio, Bitcoin could rise to $ 146 thousand in the long run, and stated that the levels of $ 73 thousand in 2022 are reasonable.
Goldman Sachs also predicted that if gold takes the market share, Bitcoin will see 100 thousand dollars this year.