JPMorgan: Nobody Really Thinks BTC Will Hit $100K This Year | Live Bitcoin News

2022
was
supposed
to
be
the
year
in
which
bitcoin
reached
the
six-figure
mark.
Many
analysts
believed
that
by
the
end
of
the
year,
$100,000
would
be
achievable
for
the
world’s
number
one
digital
currency
by
market
cap.
However,
given
the
recent
bearish
trends
bitcoin
has
been
following,
a
poll
released
by
financial
giant
JPMorgan
suggests

that
many
people
are

changing
their
minds.

JPMorgan
Poll
Shows
Fewer
and
Fewer
People
Believing
in
the
Power
of
BTC

2021
was
arguably
the
year
for
bitcoin.
The
asset
rose
to
a
whopping
$68,000
per
unit
in
November,
though
things
began
taking
some
ugly
turns
soon
after
that.
The
currency
incurred
several
drops
and
before
long,
it
was
in
the
$40,000
range.
2022
has
also
featured
a
shaky
start
for
bitcoin
given
that
the
currency
recently
fell

below
the
$40,000
mark
,
though
it
has
since
recuperated
somewhat.

Nevertheless,
people
are
noticing
bitcoin
slipping
into
oblivion.
Data
stemming
from
JPMorgan
suggests
that
many
traders
now
see
bitcoin
hitting
a
peak
of
around
$60,000
by
the
end
of
the
year,
and
very
few
are
convinced
that
$100K
is
in
bitcoin’s
immediate
future.
Approximately
47
separate
JPMorgan
clients
took
part
in
the
survey
between
the
dates
of
December
13
and
January
7.
The
poll
was
conducted
as
a
means
of
establishing
its
macroeconomic
outlook
for
2022.

The
survey
says
that
around
41
percent
of
those
taking
part
in
the
poll
believe
bitcoin
will
end
the
year
at
an
even
$60,000
or
somewhere
around
there,
while
only
five
percent
are
convinced
bitcoin
will
hit
$100,000.

The
good
news
is
that
things
are
still
quite
early.
There
are
several
months
to
go
before
we
finally
know
where
bitcoin
is
truly
heading.
However,
what
seems
to
have
a
lot
of
traders
worried
is
that
with
2021
doing
so
well,
2022
may
feature
some
heavy
slumps
that
will
be
hard
to
overcome.
This
is
a
pattern
often
seen
in
the
bitcoin
world,
prominent
examples
being
the
years
2017
and
2018.

The
former
saw
bitcoin
trading
for
what
was
then
an
all-time
high
of
just
under
$20,000
per
unit.
Everyone
felt
BTC
was
on
top
of
the
world
and
that
the
cryptocurrency
was
likely
to
keep
hitting
peaks
from
there.
Unfortunately,
2018
featured
the
exact
opposite
scenario,
with
BTC
dipping
below
$10,000
just
a
few
weeks
later
and
losing
more
than
half
its
value
rather
quickly.

If
2022
Is
a
Repeat
of
2018,
$100K
Probably
Won’t
Be
Achievable

From
there,
the
currency
fell
to
about
$6,000
over
the
summer,
while
the
last
two
months
of
the
year
saw
BTC
losing
approximately
70
percent
of
its
value
and
dipping
into
the
$3,500
range.
It
would
take
about
five
months
for
bitcoin
to
show
any
signs
of
recuperating.

Among
those
who
still
believe
BTC
can
hit
$100,000
this
year
is
Nayib
Bukele,
the
president
of
the
Central
American
nation
of
El
Salvador.

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