Bitcoin at $300,000 or $10,000? The JP Morgan chief warns of something worse than recession

• Jamie Dimon warned JP Morgan clients that a recession could be on the horizon, with a 20-30% chance of something worse happening.
• The Federal Reserve’s goal of lowering inflation from 8% to 4% by the end of 2022 could be derailed in the event of an economic slowdown.
• While Skybridge Capital recently predicted a Bitcoin price rally to $300,000, analysts are weighing the likelihood of a correction in BTC.

JP Morgan’s Jamie Dimon warned clients on a conference call of “something worse than recession” in today’s economy. Dimon believes the probability of something worse than economic decline is 20-30%.

Also read: Bitcoin Bear Market Trouble: BTC price drop below $21,000 could spell doom

JP Morgan warns of something worse than a recession

Jamie Dimon, CEO of JP Morgan, told clients in a recent conference call that there are storm clouds ahead. This implies, despite the current robust state of the US economy, that something worse than a recession is in the cards. Dimon believes the probability of a mild recession is 20% to 30%; a severe recession has similar odds as the Federal Reserve raising interest rates.

Quantitative tightening and the macroeconomic outlook point to “something worse than a recession” in the US economy. While recession can slow the economy, the president of the World Bank is on the same side as Dimon and commented on high inflation.

David Malpass, President of the World Bankso,

The world economy is again at risk. It faces high inflation and slow growth at the same time. Even if a global recession is averted, the pain of stagflation could persist for several years – unless major increases in supply are initiated.

Skybridge Capital predicts Bitcoin price rise to $300,000

Skybridge Capital, an investment management companyrecently predicted a Bitcoin price rally to $300,000. Anthony Scaramucci, founder and managing partner of global asset management firm Skybridge Capital, has a positive view of Bitcoin and Ethereum. Scaramucci believes the Bitcoin price could rise to $300,000 in the next 12 to 24 months. The founder explained to investors that the world’s largest cryptocurrency is set to reach $300,000 in the long term; therefore, they should “relax” and “get long-term.”

Scaramucci claims,

The crypto market, it is our belief that most of the leverage is completely out of that system. So you see a very strong improvement. It is a reminder to investors not to pull out, fight their own fears, be patient and stay long term.

Bitcoin price heading to $300,000 or $10,000?

Neko, a cryptoanalyst and trader, noted that the Bitcoin price has fallen to $21,700 in the ongoing bearish cycle. This level is key to the BTC price rally, as it is the cumulative average breakeven for all Bitcoin holders, at $21,700.

Bitcoin market price hits cumulative average breakdown level

Bleeding Crypto, pseudonymous cryptoanalysts, claim that the Bitcoin price falls every September, four years in a row. It remains to be seen where BTC is headed in September 2022, but this suggests that the current bearish run may not be over.

Bitcoin USD price chart, four years in a row