Majority of JPMorgan Clients Expect Bitcoin to Trade at $60K or More by Year-End

45% of the banking giant's clients see bitcoin trading at or under $40,000.

AccessTimeIconJan 17, 2022 at 12:43 p.m. UTC
Updated Jan 17, 2022 at 12:50 p.m. UTC

Will Canny is CoinDesk's finance reporter.

JPMorgan said that according to a survey, majority of its clients expect bitcoin to trade at $60,000 or more by the end of this year.

  • The Wall Street giant said in a note published last week that 55% of the clients surveyed see bitcoin reaching the $60,000 barrier.
  • According to the survey, 41% of the bank’s clients see bitcoin trading at $60,000 at year-end, 9% see it crossing $80,000, and 5% see it trading above $100,000.
  • On the other hand, 20% think it would trade around $40,000, 23% expect the digital currency to be trading at $20,000, while only 2% of the bank’s clients were of the view that the bitcoin would trade at $10,000 or less by the end of 2022.
  • Rival investment bank Goldman Sachs wrote in a report earlier this month that Bitcoin’s price could increase to over $100,000 if the digital currency’s share of the ‘store of value’ market were to rise to 50% over the next five years.
  • Bitcoin was trading about $42,781 as of publication time.

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Will Canny is CoinDesk's finance reporter.

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Will Canny is CoinDesk's finance reporter.