Skip to main content

Bitcoin to $ 100,000? Wall Street still not convinced



 JPMorgan Chase is bringing some calm to the crypto market. However, only 5 percent of the customers surveyed believe that Bitcoin will rise to $ 100,000 by the end of the year.


One of the largest investment banks in the world gives its Bitcoin ( BTC ) forecast for 2022.


In a recent poll, JPMorgan Chase asked its customers: "Where do you see the Bitcoin price at the end of 2022?" Only 5 percent said the digital coin will reach $ 100,000. 9 percent expect a new all-time high of over $ 80,000.


The bank is known for its customer portfolio for the rich. Some BTC bulls are happy that 14 percent of JPMorgan's customers expect Bitcoin to double at least.



Overall, the survey was positive. Most customers (55 percent) see BTC at $ 60,000 or above by the end of the year. Only a quarter expect the price to drop below $ 40,000 .


"I'm not surprised they are so pessimistic about Bitcoin," said Nikolaos Panigirtzoglou, JPMorgan's chief executive officer for London. He added: 


"Our Bitcoin position indicator is based on the Bitcoin futures and is oversold. The actual value of the coin is between 35,000 and 73,000 US dollars, depending on how investors assess the volatility ratio to gold."

The bank manages assets of over $ 2.6 trillion and has become increasingly involved in the crypto sector, especially since the launch of its own JPM Coin in 2019. It is one of the Big Four of American investment banks and has been clarifying its customers and investors since July 2021 on the advantages and disadvantages of Bitcoin.


JPMorgan boss Jamie Dimon doesn't quite let through, but in September last year he softened his stance on Bitcoin a little. He said Bitcoin could go up ten times in five years, but he still wouldn't buy .


The billionaires Ray Dalio and Bill Miller, however, recommend that 1 to 50 percent to invest in BTC.



With increasing adoption by institutional investors and the forecast of $ 200,000 in 2022 by other funds like Fundstrat Global Advisors, the question arises: are JPMorgan Chase's clients on the right track? Or are Wall Street executives and other high net worth individuals clearly pessimistic?

My Top Picks
Honeygain - Passive earner that pays in BTC or PayPal
MandalaExchange -The Best no KYC crypto Exchange! 
BetFury - Play And Earn BFG for daily Bitcoin and ETH dividends!
Pipeflare - Faucet that pays in ZCash and Matic, Games pay in DAI
Womplay - Mobile dApp gaming platform that rewards in EOS and Bitcoin
Cointiply - The #1 Crypto Earning Site
Torum - Join the latest Social Network and earn TRM for Free! 
LiteCoinPay - The #1 FaucetPay earner for Litecoin 
Upland - Collect Digital Properties & Test Your Skills
LBRY/Odysee - YouTube Alternative that lets you earn Money by viewing videos!
FaucetPay - The #1 Microwallet Platform
FREEBTC - The #1 FaucetPay earner for Satoshi's
FaucetCrypto - An earning/faucet site that pays out instantly
FireFaucet - An earning site that pays better for some than Cointiply
DogeFaucet - Dogecoin Faucet
xFaucet - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, FEY - Claim every 5 minutes
Konstantinova - BTC, ETH, LTC, Doge, Dash, Tron, DGB, BCH, BNB, ZEC, USDT, FEY, 25 Claims Daily

Comments

Post a Comment

Popular posts from this blog

From offchain to offchain: Statechains meets Lightning

  Without a doubt, the most significant off-chain Bitcoin solution is the Lightning network. But in its wake, the statechain has emerged as an intriguing replacement. There is currently a proposal to link the two offchain networks. From an ocean, for example, you can see sunbeams glistening in the water, waves rippling, and possibly a jellyfish drifting toward the light. But you only see a small portion of it. The distance from the sea's surface to its bottom is hundreds of meters. It has dozens of different fish species swimming in it, crabs and starfish crawling on the bottom, shells clinging to rocks, and sea plants climbing up. A completely new world starts where your gaze diverges. You can picture a blockchain like Bitcoin, just like the sea. What you see on the outside is only a small portion of what is actually there; the set of UTXOs (coins) and transaction history that full nodes store are just the beginning of a much larger world. It's the plan, at least. With Bitcoin...
Post a Comment
Read more

Phishing attack on popular crypto sites tries to empty wallets

  Several major crypto sites such as Etherscan, CoinGecko, DeFi Pulse, and others report malicious pop-ups scammers use to try to trick users into connecting their MetaMask wallets. The phishing attack came from a domain displaying the Bored Ape Yacht Club (BAYC) logo. "We are investigating the root cause of this attack to fix the threat as soon as possible," CoinGecko founder Bobby Ong tweeted. The phishing attack appears to have been triggered by a malicious ad script from Coinzilla, a crypto ad network, according to CoinGecko. Etherscan also advises its users not to confirm any transactions that may appear on the website. The attackers attempted to use the hype around the “bored monkeys” non-fungible tokens (NFT) to gain access to the cryptocurrencies of unsuspecting website visitors. Although the websites affected by the scam attempt have reacted in the last few hours and deactivated the advertising pop-up, it is still recommended not to connect your MetaMask wallet to ne...
Post a Comment
Read more

Bored Ape Yacht Club NFTs stolen through phishing on Instagram

  Bored Ape Yacht Club ( BAYC ) developers announced on Monday that hackers have hijacked the official Instagram page of the popular NFT collection and posted links to a fake airdrop. Crypto enthusiasts who connected their MetaMask wallet to the rogue website subsequently had their Ape NFTs stolen. Apparently, the attack was planned to coincide with the one-year anniversary of the BAYC collection. This increased the "perceived credibility" of the phishing link. About 100 NFTs are said to have been stolen in the phishing attack . According to CoinGecko data , the minimum price for a BAYC NFT is 139 Ether ( ETH ) or $400,726. So if reports are correct, over $40 million worth of NFTs were stolen in the attack. These numbers are only the lowest estimate, however, as they are based on the lowest price.  At the time of writing, it was still unclear how the hackers gained access to BAYC's official Instagram account. Social media users have pointed out the importance of two-fact...
Post a Comment
Read more