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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?

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