In a recent survey, it was found that the majority of J.P. Morgan clients expect Bitcoin to reach $60k this year. At present, Bitcoin is trading around $42k-$43k after the price plummeted from the all-time high of $69k. We even went down $40k briefly, but the recovery was fast. So, it is expected that it will become the bottom line of Bitcoin’s correction and will help the prices recover. Tell us below when do you think we will reach $60k again.
J.P. Morgan survey
The survey included J.P. Morgan asking their clients where they think the price of Bitcoin will be by the end of the year. The survey was conducted between 13th December and 7th January and included 47 participants from the bank. The survey results are quite interesting, with major of people believing that BTC will be at $60k this year (41% voted for the same). We also have 20% of people saying that Bitcoin will stay at $40k, and 23% said that it would reach $20k this year.
There were also some super optimistic and pessimistic voters as well. 9% of the participants think BTC will reach $80k, and 5% think it will finally cross $100k this year. So, what did the super pessimistic people have to say about it? The remaining 2% think we will go below $10k in 2022, which is practically impossible.
Its time to be bullish
When the entire market is bearish, it’s time to buy. And this is also the case here. There is fear in the market, and the reason for that is Bitcoin trading so close to the important level of $40k and the price not seeing any major reliefs for weeks. Analysts from J.P. Morgan said that currently, the market is oversold according to their indicator. The futures are also oversold. All this suggests that we could see a quick turnaround, and the start of 2022 will finally become a little better. We can be pretty optimistic that $100k will be happening this year. It is just difficult to say when.
What are your thoughts as J.P. Morgan clients expect Bitcoin to reach $60k this year? And do you think we will reach $100k or higher but 2022 end? Let us know in the comments below. Also, if you found our content informative, do like and share it with your friends.