Bitcoin at $100,000: Why Wall Street no longer believes in it

Between faith and factsCan we still rationally believe in a six-figure bitcoin (BTC) in 2022? JP Morgan clients deliver their Bitcoin price predictions for this year. Only a small percentage are still hoping for bitcoin at $100,000, and another see the price of Bitcoin squarely returning to where it was before the bull rally began in late 2020.

Bitcoin at $10,000: Who’s Afraid of BTC Bears Among JP Morgan Clients?

A recent survey from JP Morgan asking its clients “Where do you see bitcoin at the end of 2022?” “, found only 5% of respondents expect to see Bitcoin at $100,000 or more.

9% expect bitcoin to surpass previous all-time highs, reaching $80,000 to $100,000. 41% of JP Morgan clients believe the Bitcoin price will be in the $60,000-$80,000 range by the end of 2022.

5% of clients at investment bank JP Morgan expect bitcoin at $100,000 at the end of 2022, while 2% expect BTC at $10,000 and below.
Where do you see bitcoin trading at the end of 2022? – Source: Bloomberg/JP Morgan

45% of survey participants see bitcoin trading at $40,000 or lower, with 23% predicting bitcoin trading in the $10,000-$20,000 range, and 2% place bitcoin at $10,000 or less by the end of 2022.

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Bitcoin down in 2022: billionaires do not necessarily agree!

Are wealthy JP Morgan clients predicting a bearish year for Bitcoin right to issue such pessimistic predictions? The macro environment of 2022 is less favorable to Bitcoin than that of last year. Bitcoin also begins this year 2022 in the red, with a foray below $40,000.

The US Federal Reserve (FED) is indeed reducing its asset purchases and wants to raise interest rates to control inflation. These provisions could play against safe havens like bitcoin.

Some wealthy investors continue to support Bitcoin, however. In a January 2022 interview with WeathTrack, billionaire Bill Miller reveals that Bitcoin make up half of his portfolio.

Betting big on cryptocurrency and bitcoin [2022] – Source: WealthTrack YouTube video

Billionaire Thomas Peterffy even advises to allocate 2% to 3% of its investment portfolio to cryptocurrencies, to protect against a possible significant devaluation of the fiat currency.

The third richest man in Mexico, Salinas Pliego, meanwhile advised, as a Christmas gift and end of year 2021, to buy bitcoin and run away from coins sonyou.

Bitcoin’s missed date with $100,000 would therefore not have been postponed to 2022, but canceled altogether? The impending death cross and the three months following it will be decisive as to whether 2022 will be placed under the sign of the bulls or the bears.

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