JPMorgan clients expect Bitcoin to trade at $60,000 by the end of 2022

41% of JP Morgan’s clients expect Bitcoin to trade at or above $60,000 by the end of 2022.
Analysts from JP Morgan believe that Ethereum has a higher value than Bitcoin and the altcoin’s use cases are more significant.
Analysts have predicted a drop below $39,000 before Bitcoin resumes its uptrend.

Ekta Mourya FXStreet

Ethereum is more valuable than Bitcoin, according to Kenneth Worthington, a financial analyst at JP Morgan. The US bank’s clients are of the opinion that Bitcoin could end 2022 at or above $60,000 based on a recent report.

Institutional clients expect Bitcoin price to trade on or below $60,000

In a recent report, JP Morgan asked clients where they see Bitcoin trading at the end of 2022. Based on the results, the highest percentage of clients, 41%, believe that Bitcoin price could hit $60,000 by the end of 2022.

5% of clients believe that Bitcoin price could trade at or above $100,000 by the end of the year.

Bitcoin price predictions for the end of 2022

Kenneth Worthington, a financial analyst at JP Morgan, recently shared his views on Bitcoin. Worthington believes that Bitcoin is less valuable than Ethereum. The analyst argues that Ethereum has a superior use case compared to the largest cryptocurrency by market capitalization.

Analysts have evaluated the Bitcoin price trend and predicted that the only way the cryptocurrency market could heal from over-saturation or dilution is a rally. @Pentosh1, a pseudonymous crypto analyst, believes that a solo Bitcoin price rally could rid the cryptocurrency market of the inward pressure of further collapse.

Analysts have predicted further continuation of Bitcoin’s downtrend before a trend reversal.

FXStreet analysts believe that Bitcoin remains at risk of crashing to $37,000.

Author

Ekta Mourya

FXStreet

Ekta Mourya has extensive experience in fundamental and on-chain analysis, particularly focused on impact of macroeconomics and central bank policies on cryptocurrencies.

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