New JP Morgan forecast predicts Bitcoin at $100,000

New JP Morgan forecast predicts bitcoin at $100,000

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”.

Disclaimer: Blockbulletin does not take accountability of investments based on the information of the website. We highly advice readers to make extensive research prior to any invest

Share this post

Share on facebook
Share on twitter
Share on linkedin
Share on pinterest
Share on print
Share on email

More News

What lies ahead for Cardano in 2022

What lies ahead for Cardano in 2022?

Charles Hoskinson, the creator of Cardano, shared what lays ahead for the smart contract ecosystem during one of his regular appearances on YouTube. So what is in…

Crypto trends that may occur in 2022

The beginning of a new year is a time of speculation about the future of the cryptocurrency market. The trends in 2021 were pretty clear, but will…
All articles loaded
No more articles to load

Knowledge Base

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are…
Polygon

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity…
All articles loaded
No more articles to load

Analyses

Bitcoin Price on a Larger Scale

Bitcoin Price on a Larger Scale

Short-term analysis can often make you shudder. Daily news, both positive and negative, puts the Bitcoin price in dynamic upward as well as downward movements.…
All articles loaded
No more articles to load

Knowledge Base

What is Avalanche (AVAX)?

Avalanche (AVAX) is a blockchain, which conquers the hearts of programmers and at the same time is a great bargain for investors. What distinguishes the…

What are stablecoins and how can you use them?

In recent years, cryptocurrencies are experiencing a real “boom”! And not just for cryptocurrencies – the rise in popularity applies to blockchain technology in general.…

What is Sandbox (SAND)?

In this material, we take a look at one of the fastest growing spaces in the metaverse family. We are talking about Sandbox and SAND…

What is Polygon (MATIC)?

Another coin worth looking at is Polygon (MATIC). It is especially liked by many investors. So what makes its popularity constantly growing? Support for Ethereum…

What is Shiba Inu (SHIB)

Shiba Inu (SHIB) is one of the most sought-after coins on the market. This is evidenced by its dynamic rallies and global interest. But does…

Who is Satoshi Nakamoto?

The world’s biggest cryptographic mystery remains unsolved to this day. It is speculated whether Satoshi Nakamoto is a single person or perhaps the name of…
All articles loaded
No more articles to load