The number of price predictions for the king of all cryptocurrencies is huge. In addition to the Stock to Flow model presented by PlanB, the predictions of representatives of the world’s largest banks are of great interest. Let’s take a look at what their estimates are.
JP Morgan and its volatile approach
One of the most recognizable voices regarding price predictions for Bitcoin is JP Morgan. This American giant in the banking sector, according to its latest analysis, estimates that the leading cryptocurrency could reach the $100,000 level in the current rally. This is positive news for the market, but quite conservative compared to the predictions of other large institutions.
However it is worth mentioning here that JP Morgan is a bank whose executives until recently stood firmly against Bitcoin. It is known to the whole world for the statement of the Chairman and CEO of JP Morgan Chase & Co, Jamie Dimon, who stated that Bitcoin is a fraud and any bank employee who has it in his wallet will be fired immediately.
Today the situation is very different. Jamie Dimon is still not a fan of BTC, but he points out that JP Morgan’s clients have put constant pressure on the bank to launch investment vehicles based on the leading cryptocurrency. Ultimately, JP Morgan offers access to bitcoin funds from Grayscale and Osprey Funds, as well as a fund provided by NYDIG.
Other leading institutions and their vision for the finale of the current bull market
JP Morgan is just one representative of the financial markets that has been eager to speak on the future of bitcoin recently. Another that frequently updates its forecasts is Bloomberg, a news agency that provides financial-related content. According to its analysts, Bitcoin should reach a value of $170,000.
The most optimistic version, however, is shared by Tom Fitzpatrick. The Citybank analyst believes that the peak of the current bull market will be $318,000. Surrounded by the usually cautious predictions of bankers, this one seems downright spectacular.
Such a positive attitude of major financial institutions, has a right to be optimistic. Bitcoin was once denied by them and considered a worthless virtual token, whose value will fall to zero. Today, few see any chance of that happening, and increasingly we hear that “Bitcoin is here to stay”.