Only 5% of JPMorgan’s Clients See Bitcoin at $100,000 by Yearend

“I’m not surprised by Bitcoin bearishness,” said Nikolaos Panigirtzoglou, a strategist at the bank and an author of the research note that included the survey. “Our Bitcoin-position indicator based on Bitcoin futures looks oversold.” He added that the coin’s fair value is between $35,000-$73,000, depending on what investors assume about its volatility ratio versus gold.