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Most investors working with the bank believe that by the end of 2022 the value of the first cryptocurrency will grow by 50% from current levels.
More than 40% of JPMorgan clients expect the price of bitcoin to exceed $ 60,000 by the end of this year, Bloomberg reports, citing a survey of the bank. The reduction of the first cryptocurrency to $ 20 thousand by the beginning of 2023 was predicted by 20% of respondents. 23% of investors believe that the asset by the end of this year will be traded at about $ 40 thousand per coin.
2% of investors are confident that by 2023 the value of the first cryptocurrency will fall below $ 10 thousand.Another 5% of respondents claim that by the end of this year the bitcoin rate will exceed $ 100 thousand.
The JPMorgan strategist and the author of the report in which the survey is presented, Nikolaos Panigirtzoglu believes that the fair price of bitcoin is in the range of $ 35-73 thousand. Panigirtzoglu also considers the decline in cryptocurrency in recent months to be logical. In his opinion, Bitcoin has entered the oversold zone.
At the beginning of November 2021, bitcoin updated its all-time high above $ 69 thousand. After that, the quotes went down. On January 10, the price of the first cryptocurrency for the first time since September fell to $ 39.5 thousand. As of 14:00 Moscow time on January 11, the asset is trading at $ 41.6 thousand. Over the past two months, it has fallen in price by 39%.
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