Bitcoin Price Forecast by Goldman Sachs - page 2.

tygeade

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Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

Bitcoin was trading above $1 trillion marketcap when it was trading above $64k price levels but now bitcoin's marketcap is around 800 billion. I guess Goldman sachs expect public to sell off their gold savings for the reason of investing into bitcoins only then bitcoin's marketcap will beat gold's "public part" marketcap. But, I am seeing only 10% to 20% of such switch over may take place as most people still prefer gold over bitcoin due to lesser volatility.

Another reason for public to continue their gold saving is, they may want to ensure about diversification even they adapt bitcoin in their portfolio.

Quote from: BitXplosion on January 08, 2022, 11:13:40 AM

Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Regardless of overtaking gold's market share, I believe bitcoin will get into $100k levels this year when more of such institutions will be releasing the positive speculations on bitcoin's future Wink

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Yaunfitda

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Nah, this is just another forecast not to be taken seriously, I mean the one making the forecast in one of the biggest bank in the world. So it's difficult to trust them, and we all know that most of the time when we heard about this predictions coming from institutions, it means that the price could go down very hard and there are people that is going to manipulate it for their own benefits, just saying.

tbct_mt2

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Forecast is forecast and it has lot of assumptions which never be true. I only see growth for Bitcoin with support from bigger adoption, from Lindy effect.

Willy Woo mentioned about Lindy effect in his tweet: https://twitter.com/woonomic/status/1480778557001711618
Vijay wrote an article in which he mentioned about Lindy effects, years ago. The Bullish case for Bitcoin

Lindy effect is proven so Bitcoin will follow it and I consider 13 years are long enough to begin on track with Lindy effect.

Jating

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And we have to understand where there prediction is coming from, perhaps they have a huge clientele of bitcoin investors so it make sense for them to make a sales pitch like this one to somewhat bring more customers for them.

But we all know that 6 digits is doable, it's just a matter of time, it could be this 2022 or the next coming years. If we remains bullish this year then maybe we have a good chance to hit $100k or even more.

Husires

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Expectations are always based on market data and not on a single variable, such as if it continues to exceed the share of gold in the market, something that cannot be accurately calculated or estimated.

If Bitcoin fails to maintain $20k, there is a problem.
If Bitcoin not breaking $100k that does not mean anything.

Bitcoin has grown over the past years, and therefore the failure to achieve $100k in 2022 does not mean that it has failed, and the failure can be measured relatively by moving away from $20k in 2022 to XXXX, which is the bottom over the past year.

mk4

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If anyone's still listening to "price forecasts" especially with an asset like bitcoin in 2022, then I don't even know what to say; especially "forecasts" from a company like Goldman Sachs lol. If there's something I've learned with bitcoin throughout the years, bitcoin tends to heavily surprise people regardless if it's in the upside or downside.

Ararbermas

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They're a good influencer to be honest but the fact that even year 2021 there's already a bunch of analyst saying that 100k is possible to happen on bitcoin. For me in my personal opinion maybe they're following as well which is trusted and much accurate when it comes making prediction. Because you know they're just a big investors but don't know how the market really works.so for sure they have good personnel when it comes the market thats why its easy for them to say that kind of words. Perhaps its the right decision to follow them as well.

bittraffic

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It's forecast like these that make people lose money because it's the opposite that's happening. But when there is bad news in the industry, it's where the prices go up too. Ever notice this too? It creates confusion instead as if it's thier goal to confuse naive investors after seeing thier money didn't shoot to the moon.

Experience will always tell me to just invest when the trend is right on and currently happening but when there is a confusing market where no one has yet had learned whether we are going to bear or bull, it's best to just leave Goldman sucks prediction alone.

LeGaulois

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Top Crypto Casino

It's based only on estimations, and an important point you didn't mention is, he added IF there is no growth in overall demand for stores of value, which is not likely to happen when we see the condition of the markets at the moment. There are many more people who are going to look for safe-havens.

The financial system is not immune to a markets crisis and the countries know this. That's why they continue to buy gold in mass, like Russia, Turkey, GB, the US, and so on.

If Bitcoin's price goes up in 2022 it will be caused by the adoption from people and institutions not because people want to use it as a store of value. Because Goldman Sachs says something doesn't mean they are right. Speculations like this, we see them every week. None of them come back to admit they were wrong and when they're right you can see them bragging on Twitter lol

As for the point saying the cryptocurrency accounts for 20% of the total store of value market, I would like to see how they do the maths...

BitXplosion

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If Bitcoin's gains in 2021 weren't enough, just wait until 2022.

Goldman Sachs predicts that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share. If you haven't invested in Bitcoin already, it could be the best time to get on board with Goldman Sachs' forecast.

"Bitcoin has all the makings of being a disruptive, digital currency that could one day replace gold as the world’s most popular store of value.

The global investment banking giant, Goldman Sachs (NYSE:GS), released its price forecast for Bitcoin in 2022, stating the possibility of $100k. Despite its 60% gains in 2021, Bitcoin did not meet many expectations as it failed to break above $100k.

Goldman Sachs predicted that Bitcoin could reach $100k in 2022 if it continues to overtake gold’s market share.

Approximately 2 percent of gold’s market cap ($700 billion) is held by the public. Goldman estimates that the public holds about $2.6 trillion in gold as an investment."

Read the full announcement at https://bitexplosion.io/bitcoin-price-forecast-by-goldman-sachs-100000-in-2022-will-the-cryptocurrency-break-out-of-the-bubble/

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