Wall Street still not convinced on Bitcoin $100K this year: JPMorgan survey
JPMorgan and Chase call for calm in the crypto market. In a recent client survey, just 5% believe Bitcoin will hit $100,000 by year-end. One of the world’s largest investment banks has its Bitcoin (BTC) price predictions ready for 2022. In a recent poll, JPMorgan Chase asked its clients “where do you see Bitcoin trading at 2022 year-end?” Just 5% said they saw the digital coin reaching $100,000, and 9% saw it breaking previous all-time highs, reaching over $80,000. The bank is known for its wealthy client portfolio. While some BTC bulls may welcome the news that 14% of JPMorgan's clients....
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Bitcoin has undergone a strong surge over the past few months, moving beyond $50,000. The digital asset’s rally has largely been driven by a growth in the reputation of BTC as an investable store of value. This shift in the sentiment around Bitcoin has been strong aided by positive announcements about the asset by Wall Street investors. Not everyone on Wall Street is convinced, though. Warren Buffett has long been an ardent critic of the […]
JPMorgan’s long-term theoretical target for Bitcoin stands at $150,000, up from $146,000 forecasted in January 2021. Amid Bitcoin (BTC) posting a significant price recovery since early February, JPMorgan analysts suggested that the “fair value” of BTC is actually lower than its market price on Tuesday.The current fair-value level for BTC is around $38,000, JPMorgan strategists said in the bank’s latest investor note published on Tuesday. Led by JPMorgan crypto market analyst Nikolaos Panigirtzoglou, the strategists estimated the “fair value” based on Bitcoin being nearly four times as....
Bitcoin prices have been better after the second week of September, hovering around $46.5K to $48.5K per unit during the last two days. Meanwhile, bitcoin proponents still believe a significant second-leg up will be happening this year and a recent survey published by Plan B with 123,410 votes shows people believe bitcoin will reach $100K by Christmas 2021. Furthermore, a price model crafted by Will Clemente called “Illiquid Supply Floor” indicates that bitcoin prices may never drop below $39K again.
Plan B’s Bitcoin Price Survey Sees 100K Votes
Plan B is a....
A new survey published by the SecondMarket-owned public investment fund, Bitcoin Investment Trust (BIT), suggests that as the general public learns more about bitcoin, overall optimism about its future financial applications is likely to improve. The survey garnered responses from more than 1,000 individuals, including those from the Wall Street, Silicon Valley and bitcoin communities. The results detail how the respondents first learned about bitcoin and how their view of the technology's potential changed over time. Overall, the findings suggest that, should the experience of these....
JPMorgan is not a Bitcoin indicator. But the American banking giant’s third-quarter earnings report is full of anecdotes that may influence the cryptocurrency’s future outlook – in one way or another. Background The JPMorgan earnings showed an increase in profits by about 4 percent from a year ago. The WSJ reported the outcome as “surprise,” stating that the bank’s return to pre-pandemic levels baffled earlier Wall Street estimations. JPMorgan somewhat represents the health of the […]